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11767 Katy Freeway

Interra Capital Group Acquires 226,586 SF Office Building In Houston From Gemini Rosemont
SOLDOffice

Interra Capital Group Acquires 226,586 SF Office Building In Houston From Gemini Rosemont

11767 Katy Freeway

Building Size

226,586 SF

Asset Type

Office

Closing

Oct 4, 2023

AI

Interra Capital Group, led by Jack Polatsek, has acquired Memorial Pointe, an 11-story office building in Houston. The property, located at 11767 Katy Freeway in the Energy Corridor, spans 226,586 square feet and was last owned by Gemini Rosemont. At the time of the sale, the building was 25 percent leased.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 11767 Katy Freeway, Houston
  • Market: Houston
  • Square Footage: 226,586

The deal was facilitated by JLL brokers Rick Goings, Chad Coluccio, and Tom Hall, representing Interra Capital Group in the transaction. Adrian Sum served as the seller's representative from Gemini Rosemont.

Players

Tom Hall

JLL

Broker

$160.6M

vol

7 deals

Broker

Jack Polatsek

Interra Capital Group

Buyer

3 deals

Buyer
GR
Gemini RosemontSeller

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