M-M Properties Acquires Property From CBRE Global Investors For $175 Million In Houston
5555 San Felipe St, Houston, TX, 77056
$175,000,000
$175,000,000/SF
Building Size
1 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in this transaction is located at 5555 San Felipe St, Houston, TX 77056. The property was sold for a transaction amount of $175,000,000.00, encompassing a total square footage of 1. This transaction is positioned within the Houston market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $175,000,000.00
- Address: 5555 San Felipe St, Houston, TX 77056
- Market: Houston
- Seller: CBRE Global Investors
- Buyer: M-M Properties
- Seller's Representative: Jeff Hollinden - JLL
Key individuals involved in this deal include Jeff Hollinden, representing CBRE Global Investors in the sale. The buyer, M-M Properties, takes ownership following this transaction facilitated through the brokerage services of JLL, represented by Jeff Hollinden.
On the Map
$175,000,000
$175,000,000/SF
Office
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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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93