Virtus Real Estate Capital Acquires Office Building In Sugar Land For Sale
14897 Southwest Freeway, Sugar Land, TX, USA
Building Size
90,014 SF
Asset Type
Office
Closing
Mar 16, 2021
AI
The office property located at 14815-14897 Southwest Freeway in Sugar Land has been sold in a transaction. The property spans over 90,014 square feet and sits on approximately 6 acres. The sale took place on 03/17/2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Seller: Norvin Healthcare Properties
- Buyer: Virtus Real Estate Capital
- Brokers: Chris Bodnar, Lee Asher, Ryan Lindsley, Jordan Selbiger, & Brandy Bellow Spinks - CBRE
Chris Bodnar, Lee Asher, Ryan Lindsley, Jordan Selbiger, and Brandy Bellow Spinks from CBRE represented the parties involved in this transaction. They played a crucial role in facilitating the deal between Norvin Healthcare Properties, the seller, and Virtus Real Estate Capital, the buyer.
Players
Sugar Land 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