Dan W. Stansbury Jr. & Steven J. Mancillas Acquire Office Tower From Naïm Abou-Jaoudé In Houston
515 Post Oak Boulevard
Building Size
274,583 SF
Asset Type
Office
Closing
Feb 10, 2025
AI
515 Post Oak Boulevard is a 274,583 square foot Class A office tower located in Houston’s Galleria submarket. The property is currently 74% leased and has undergone recent upgrades with more than $1 million in improvements, contributing to its appeal in the market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 515 Post Oak Boulevard
- Market: Houston
- Buyer: Dan W. Stansbury Jr. & Steven J. Mancillas - EY Ventures LLC
- Seller: Naïm Abou-Jaoudé - New York Life Real Estate Investors
- Brokers: Jeff Hollinden & Kevin McConn - JLL
JLL Capital Markets facilitated the sale on behalf of seller New York Life Real Estate Investors and successfully secured the buyer, EY Ventures LLC. The transaction garnered significant investor interest attributed to the property’s location and its recent enhancements.
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