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
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