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
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