Hines Global Income Trust Acquires Houston Office Building For $145M
4200 Westheimer Road, Houston, Texas 77027, United States
$145,000,000
$703/SF
Building Size
206,000 SF
Asset Type
Office
Closing
Jul 26, 2022
About this deal
AI
The 206,000 square foot office property located at 4200 Westheimer Road in Houston has been sold for $145,000,000. The property sits on 1.3 acres of land and is part of the Houston market. The sale price equates to a price per square foot of $704.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $145,000,000
- Address: 4200 Westheimer Road
- Market: Houston
- Asset Type: Office
- Acres: 1.3
The buyer of the property is Hines Global Income Trust, represented by Jeffrey C. Hines and Janice E. Walker. The seller of the property is Stonelake Capital Partners.
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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93