DML Capital Acquires 171510 Square Foot Office Building On Bering Drive From KBS
1800 Bering Drive
Building Size
171,510 SF
Asset Type
Office
Closing
Mar 4, 2026
About this deal
AI
The transaction involved the sale of an office asset located at 1800 Bering Drive in Houston, comprising a total area of 171,510 square feet. The property type is classified as Class A office space. The transaction took place in the Houston market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1800 Bering Drive
- Market: Houston
- Asset Size: 171,510 SF
- Buyer: Sajjid Dawood - DML Capital
- Seller: Charles Schreiber Jr - KBS
- Brokers: Kevin McConn & Marty Hogan - JLL
KBS upgraded the property with enhancements to the lobby, common areas, and exterior before marketing it through JLL Capital Markets. The brokers involved in the transaction were Kevin McConn and Marty Hogan from JLL.
On the Map
Office
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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