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1300 W Sam Houston Pkwy SHo...

SOLDOffice

LM & Associates, LLC Acquires 94,404 SF Office Building In Houston From CapRidge Partners, LLC

1300 W Sam Houston Pkwy SHouston, TX 77042, USA

Building Size

94,404 SF

Asset Type

Office

Closing

Jun 12, 2023

AI

The sale of Briar Forest Crossing, a 94,404-square-foot office building in Houston, has been completed by JLL Capital Markets. The property, located in Houston's Westchase submarket at 1300 West Sam Houston Parkway, was purchased by LM & Associates, LLC. The office building is currently 73.1% leased and serves as the headquarters for US Physical Therapy.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Square footage: 94,404 SF
  • Address: 1300 West Sam Houston Parkway
  • Market: Houston

The buyer of the property was LM & Associates, LLC, while the seller was CapRidge Partners, LLC. Doug Pack from Colliers represented the buyer as their broker, and Marty Hogan from JLL represented the seller.

Players

Martin Hogan

JLL

Broker

$69M

vol

42 deals

Broker
AL
Associates LLCBuyer
CL
CapRidge Partners, LLCSeller

Texas 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