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10101 Southwest Fwy, Housto...

Tristar Alliance Properties Acquires Sterling Plaza Office Building In Houston
SOLDOffice

Tristar Alliance Properties Acquires Sterling Plaza Office Building In Houston

10101 Southwest Fwy, Houston, TX, 7...

Building Size

102,292 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The asset involved in this transaction is an office building known as Sterling Plaza, located at 10101 Southwest Freeway in Houston, Texas. This Class B property encompasses 102,292 square feet and was constructed in 1982, undergoing renovation in 2001.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Buyer: Tristar Alliance Properties
  • Seller: Mykawa Hso LP
  • Buyer's Representative: Ryan Young-Lee & Associates
  • Seller's Representative: Patrick O’Connell-O’Connell Realty

Robert LaCoure and Ryan Young of Lee & Associates were involved in representing the buyer, who has plans to upgrade the lobby, roof, and HVAC systems of the property. Patrick O’Connell represented the seller in this transaction.

Players

Patrick O’Connell

O’Connell Realty

Broker

1 deal

Broker
L
LPSeller

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