FCA Purchases Property At 11490 Westheimer Rd Houston With Brokers Jared Chua And Newmark's Team
11490 Westheimer Rd, Houston, TX, 7...
Building Size
232,108 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in this transaction is Westchase Park Plaza, a Class A office property located at 11490 Westheimer Rd, Houston, TX. The property consists of a 10-story tower with a total area of 232,108 square feet. At the time of sale, it was 61 percent leased and had recently undergone a $6 million capital improvements project.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 11490 Westheimer Rd, Houston, TX
- Market: Houston
- Seller's Representative: Merica Mackey, Gary Carr - Newmark, John Alvarado - Newmark
- Broker: Jared Chua - CBRE
- Buyer: FCA
The transaction was facilitated by several representatives from CBRE, including Jared Chua, John Alvarado, Evan Stone, Gary Carr, Eric Mackey, and Robert Hill, who collectively represented the seller in this deal.
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