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15810 Park Ten Pl, Houston,...

Belvoir Real Estate Group Acquires 85050 SF Office In Houston From Stream Realty Partners
SOLDOffice

Belvoir Real Estate Group Acquires 85050 SF Office In Houston From Stream Realty Partners

15810 Park Ten Pl, Houston, TX, 77084

Building Size

85,050 SF

Asset Type

Office

Closing

Feb 18, 2019

AI

The property involved in the transaction is located at 15810 Park Ten Place in Houston, TX, 77084. It is an 85,050-square-foot Class B office property situated in Houston's Energy Corridor. The sale took place on February 18, 2019, with Belvoir Real Estate Group and Mission Cos. acquiring the property. JLL's Kevin McConn, Rudy Hubbard, and Rick Goings represented the seller, a joint venture between Chief Partners and Stream Realty Partners.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Seller: Stream Realty Partners
  • Buyer: Belvoir Real Estate Group
  • SF: 85,050
  • Seller's Representatives: Rick Goings (JLL), Rudy Hubbard (JLL)

The joint venture between Belvoir Real Estate Group and Mission Cos. successfully acquired the office property in Houston. The seller, a collaboration between Chief Partners and Stream Realty Partners, entrusted the sales efforts to JLL's team consisting of Kevin McConn, Rudy Hubbard, and Rick Goings. The transaction details, including the sale price and additional terms, were not disclosed in the public announcement.

Players

Rick Goings

JLL

Broker

$115M

vol

37 deals

Broker
BL
Belvoir Real Estate Group LLCBuyer

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