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15710 John Fitzgerald Kenne...

David Z. Mafrige Interests Acquires Eight-Story Office Building In Houston
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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