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Nitya Capital Acquires Houston Office Properties For $46M

Property Image
SOLD
$46,000,000
Rick Goings
Laura Sellingsloh
John Ream
+ 1

Texas

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Office463,969 SF
Sold 09/11/2020
the dealplayerscompscontact
Property Image
SOLD

Nitya Capital Acquires Houston Office Properties For $46M

20333 state highway 249, Houston, TX, USA

See Similar Deals
Office463,969 SF
Sold 09/11/2020
Rick Goings
Laura Sellingsloh
John Ream
+ 1
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$99
Total Square Footage:463,969 SF
Transaction Type:Sale

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:

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.

Players

John Ream
JLL
John Ream
6 deals$99M volume(713) 425-5919
BROKER
Laura Sellingsloh
JLL
Laura Sellingsloh
4 deals$206M volume(713) 852-3455
BROKER
Ethan Goldberg
JLL
Ethan Goldberg
5 deals$46M volume
BROKER
Rick Goings
JLL
Rick Goings
37 deals$115M volume(713) 425-5855
BROKER
Nitya Capital
Nitya Capital
BUYER

Details

SOLD
IMAGE: ⁠ IMAGE: John Ream, Laura Sellingsloh, & Rick Goings⁠ DATE: 09/11/2020⁠ ADDRESS: 20333, 20405, 20445, & 20329 State Highway 249⁠ MARKET: Houston⁠ ASSET TYPE: Office⁠ SELLER: The GenCap Group⁠ BUYER: Nitya Capital⁠ LENDER: Morgan Stanley⁠ BROKERS: Rick Goings, Ethan Goldberg, John Ream, & Laura Sellingsloh - JLL Capital Markets LOAN AMOUNT: $46,000,000⁠ SF: 463,969⁠

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,453,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62