David Z. Mafrige Interests Acquires Eight-Story Office Building In Houston
15710 John Fitzgerald Kennedy Boulevard
Building Size
216,889 SF
Asset Type
Office
Closing
Feb 1, 2024
AI
David Z. Mafrige Interests (DZMI) has acquired World Houston Place, an eight-story office building located at 15710 John F. Kennedy Blvd in Houston. The property spans 216,889 square feet and was constructed in 1985. Under the new ownership represented by Stream Realty Partners, the building will undergo various upgrades, including enhancements to the common areas, the addition of a fitness center, and the creation of a tenant lounge.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 15710 John F. Kennedy Blvd
- Market: Houston
- Square Footage: 216,889
DZMI, represented by David Z. Mafrige, finalized the purchase of World Houston Place. This acquisition allows DZMI to expand its real estate portfolio and plays a strategic role in their future business endeavors.
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