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
About this deal
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.
On the Map
Office
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Players
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