DataBank Holdings Acquires Houston Office Asset From CyrusOne For $670M
SOLD
$670,000,000
Texas
See Similar DealsOffice400,000 SF
Sold 01/19/2022
SOLD
DataBank Holdings Acquires Houston Office Asset From CyrusOne For $670M
5150 Westway Park Boulevard, Houston, Texas 77041, United States
See Similar DealsOffice400,000 SF
Sold 01/19/2022
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$1,675
Total Square Footage:400,000 SF
Transaction Type:Sale
DataBank Holdings, led by Raul Martynek, has acquired the office property located at 5150 & 5170 Westway Park Blvd, 11003 Corporate Center Drive & 4211 Southwest Freeway in Houston. The property, spanning approximately 400,000 square feet, was sold by CyrusOne for a transaction amount of $670,000,000.
Summary of transation details
- Property Type: Office
- Transaction Amount: $670,000,000
- Address: 5150 & 5170 Westway Park Blvd, 11003 Corporate Center Drive & 4211 Southwest Freeway, Houston
- Market: Houston
- Buyer: DataBank Holdings - Raul Martynek
- Seller: CyrusOne
Raul Martynek, representing DataBank Holdings, played a key role in the acquisition of this office property in Houston.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$35,733,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,380,368.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,176,141.82
Annual Debt Service$38,113,701.82
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