LMF Commercial Refinances Midtown Houston Office For $36M Loan
2100 Travis Street, Houston, Texas 77002, United States
$36,000,000
$133/SF
Building Size
269,800 SF
Asset Type
Office
Closing
Mar 9, 2022
About this deal
AI
A refinance loan has been secured for an office property located at 2100 Travis St. in Midtown Houston. The property spans approximately 269,800 square feet and is situated in the Midtown Houston market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $36,000,000
The lender for this transaction is LMF Commercial, a subsidiary of Lennar Co., represented by Nihad Choudhury. The loan terms involve a 10-year fixed CMBS loan with full-term interest-only payments.
Keeley Megarity is the landlord for this property. Nabil Rhazi, from Alico Capital, served as the broker for this deal.
Players
Houston 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93