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11490 Westheimer Rd, Housto...

FCA Purchases Property At 11490 Westheimer Rd Houston With Brokers Jared Chua And Newmark's Team
SOLDOffice

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:

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

Jared Chua

CBRE

Broker

4 deals

Broker
FCA
FCABuyer

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