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3040 Post Oak Boulevard

Gabriel Braun Of Braun Enterprises Acquires Office Building In Houston From Michel A. Khalaf
SOLDOffice

Gabriel Braun Of Braun Enterprises Acquires Office Building In Houston From Michel A. Khalaf

3040 Post Oak Boulevard

Building Size

426,009 SF

Asset Type

Office

Closing

Apr 2, 2025

AI

The asset involved in this transaction is a Class A office building located at 3040 Post Oak Boulevard in Houston. The property spans 426,009 square feet and is situated in the Galleria area of the city.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Buyer: Gabriel Braun - Braun Enterprises
  • Seller: Michel A. Khalaf - MetLife
  • Market: Houston
  • Asset Size: 426,009 SF

Gabriel Braun, representing Braun Enterprises, completed the acquisition of the property from Michel A. Khalaf, who is affiliated with MetLife. Braun Enterprises has plans for renovations, including the addition of a new fitness center, coffee bar, and upgrades to the lobby. Stream Realty Partners will undertake leasing and property management responsibilities for the asset.

Players

Gabriel Braun

Braun Enterprises

Buyer

$725.1M

vol

8 deals

Buyer

Michel A. Khalaf

MetLife

Seller

$288.2M

vol

8 deals

Seller

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