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
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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