CIM Group Refinances Office Property In Woodlands, TX For $127M
1725 Hughes Landing Boulevard, Spring, TX 77380
$127,000,000
$195/SF
Building Size
649,406 SF
Asset Type
Office
Closing
Jan 11, 2022
About this deal
AI
Located in Woodlands, TX, the property at 1725 & 1735 Hughes Landing has recently undergone a significant transaction. The asset is an office building spanning approximately 649,406 square feet, situated on a sprawling 79-acre plot of land. The property is owned by The Howard Hughes Corp. and was involved in a refinancing loan deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $127,000,000
- Loan Type: Refinancing Loan
During the deal, the lender for this transaction was CIM Group, represented by Shaul Kuba. The loan amount of $127,000,000 was provided for the refinancing of the property located at 1725 & 1735 Hughes Landing. The involvement of CIM Group as the lender highlights their role in supporting this real estate transaction.
On the Map
$127,000,000
$195/SF
Office
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Players
Spring Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93