ManhattanLife Acquires Property From Boxer Properties With Buyer’s Rep Jon Silberman In Houston
13831 Northwest Fwy, Houston, TX, 7...
Building Size
151,835 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
A 151,835-square-foot office building has been sold, located at 13831 Northwest Freeway in the Fairbanks/Northwest Crossing area of Houston. The property is situated in a strategic market and adds to the existing real estate portfolio of the buyer.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Not disclosed
- Address: 13831 Northwest Fwy, Houston, TX
- Market: Houston
- Buyer: ManhattanLife
- Seller: Boxer Properties
- Buyer’s Representative: Jon Silberman - NAI Capital
- Seller’s Representative: Jay Nowlin - Boxer Properties
- Square Footage: 151,835
Jon Silberman from NAI Partners represented ManhattanLife in this transaction, marking the buyer's continued investment in commercial real estate. Jay Nowlin served as the internal representative for Boxer Properties, facilitating the sale on behalf of the seller.
Players
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