TRC Capital Partners LLC Acquires Office Property On Medical Center Blvd Webster
455 E Medical Center BLVD, Webster...
Building Size
106,168 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The Galaxy II office building, spanning 106,168 square feet, is situated at 455 E Medical Center BLVD in Webster. This five-story complex, constructed in 2009, was fully occupied at the time of its sale. Tenants included United Fire Group, IBI Group, and APNetwork.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Location: Webster, Texas
- Seller's Representative: Martin (Marty) Hogan(JLL), Rick Goings(JLL)
- Buyer: TRC Capital Partners LLC
Marty Hogan and Rick Goings from JLL represented the seller, identified as Houston-MDL LLC, and facilitated the transaction with TRC Capital Partners LLC. James Brolan of JLL assisted in securing a five-year fixed-rate acquisition loan through Independent Financial for the new ownership.
On the Map
Office
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Players
Webster 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