Joint Venture Acquires 137000 Square Foot Office Building In Katy Represented By JLL
1400 Ravello Drive
Building Size
137,000 SF
Asset Type
Office
Closing
Jan 23, 2026
About this deal
AI
A joint venture between a local investor and a medical user acquired a fully vacant office building located at 1400 Ravello Drive. The asset spans 137,000 square feet, and it is situated in Katy’s Mason Creek Business Park.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 137,000
- Address: 1400 Ravello Drive
- Market: Katy
- Brokers: Rick Goings & Kevin McConn - JLL
- Seller: A large lending institution
JLL represented the seller in this transaction, highlighting the prevailing end-user demand for office assets that contribute to reducing market vacancy. The deal reflects a strategic investment approach within the commercial real estate sector.
Players
Katy 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