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
About this deal
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.
On the Map
Office
View full map
Players
Texas Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas office sales on Traded.
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