Nitya Capital Acquires Houston Office Properties For $46M
20333 state highway 249, Houston, TX, USA
$46,000,000
$99/SF
Building Size
463,969 SF
Asset Type
Office
Closing
Sep 10, 2020
About this deal
AI
The GenCap Group has sold four office properties located at 20333, 20405, 20445, and 20329 State Highway 249 in Houston. The sale was completed on September 11, 2020. The properties have a total square footage of 463,969 and were purchased by Nitya Capital.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $46,000,000
- Seller: The GenCap Group
- Buyer: Nitya Capital
- Lender: Morgan Stanley
- Brokers: Rick Goings, Ethan Goldberg, John Ream, and Laura Sellingsloh - JLL Capital Markets
The loan for the transaction was provided by Morgan Stanley. Rick Goings, Ethan Goldberg, John Ream, and Laura Sellingsloh from JLL Capital Markets represented the sellers and buyers in the deal.
On the Map
$46,000,000
$99/SF
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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93