Life Insurance Company Provides $7.4M Loan For 63,373 SF Office Property In Spring, Houston
FINANCED
$7,400,000
Texas
See Similar DealsOffice633,730 SF
Financed 06/17/2020
FINANCED
Life Insurance Company Provides $7.4M Loan For 63,373 SF Office Property In Spring, Houston
24624 I-45, Spring, TX 77386, USA
See Similar DealsOffice633,730 SF
Financed 06/17/2020
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$11
Total Square Footage:633,730 SF
Transaction Type:Loan
A $7,400,000 loan was secured for a 63,373 square foot office property located at 24624 Interstate 45 in Houston. The property is situated in the Spring market. The lender for this transaction was Life Insurance Company.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,400,000
- Address: 24624 Interstate 45
- City: Houston
- Market: Spring
- Square Footage: 63,373
Patrick Barkley & Chad Metzger from Gantry served as the brokers representing the parties involved in this loan transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,400,000.00
Monthly NOI$49,333.33
Monthly Debt Service$46,773.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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