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1001 S Dairy Ashford Rd, Ho...

Hartman Income REIT Acquires Property At 1001 S Dairy Ashford Rd Houston With Seller's Reps Danny Miller And Johnny Kight
SOLDOffice

Hartman Income REIT Acquires Property At 1001 S Dairy Ashford Rd Houston With Seller's Reps Danny Miller And Johnny Kight

1001 S Dairy Ashford Rd, Houston, TX...

Building Size

126,811 SF

Asset Type

Office

Closing

Apr 15, 2019

AI

Ashford on the Bayou is a 126,811-square-foot office building located at 1001 S Dairy Ashford Rd, Houston, TX, within the Houston market. The five-story property was 55 percent leased at the time of sale.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: Not disclosed
  • Address: 1001 S Dairy Ashford Rd, Houston, TX
  • Market: Houston
  • Seller's Representative: Danny (Dan) Miller, Johnny Kight of Fuller Realty Interests
  • Buyer: Hartman Income REIT
  • Seller: RPD Catalyst LLC
  • Square Footage: 126,811

Dan Miller and Johnny Kight of HFF represented the seller, while Susan Hill and Steve Heldenfels of HFF arranged fixed-rate acquisition financing through RGA Reinsurance Co. on behalf of the buyer, Hartman Income REIT.

Players

Danny Miller

Broker

15 deals

Broker
HR
Hartman Income REITBuyer

Houston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93