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
About this deal
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.
On the Map
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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