Buchanan Street Partners Acquires Office/Industrial Property In Houston
6611 Portwest Drive, Houston, TX, USA
Building Size
176,864 SF
Asset Type
Office
Closing
Sep 1, 2021
AI
The property at 6611-6975 Portwest Dr in Houston has been sold in a recent transaction. The property is an office/industrial asset with a total square footage of 176,864. The sale took place on September 1, 2021.
Summary of transaction details
- Property Type: Office/Industrial
- Square Footage: 176,864
- Transaction Date: 09/01/2021
- Address: 6611-6975 Portwest Dr, Houston
The buyer of the property is Buchanan Street Partners, represented by Matt Haugen and Mark Oddo. The sale was facilitated by the brokers Trent Agnew, Rusty Tamlyn, Charlie Strauss, Lance Young, and Jack Britton from JLL.
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