Jacques Bessoudo Of Galium Capital Acquires Office Building From Scott Arnoldy Jr And Len O'Donnell
3657 Briarpark Drive
Building Size
—
Asset Type
Office
Closing
Jan 28, 2025
AI
The transaction involved an office property located at 3657 Briarpark Drive in the Houston market. The asset type is specified as office. The property was sold by Scott Arnoldy, Jr from Triten Real Estate Partners and Len O'Donnell from Affinius Capital.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Buyer: Jacques Bessoudo - Galium Capital
- Seller: Scott Arnoldy, Jr - Triten Real Estate Partners
- Seller: Len O'Donnell - Affinius Capital
- Brokers: Kevin McConn, Marty Hogan & Rick Goings - JLL
JLL brokered the sale of Lockton Place, a 186,747-square-foot office building in Houston’s Westchase area, which was 96% leased with Lockton as the anchor tenant. The property featured a tenant lounge, café, and fitness center.
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