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7600 W Tidwell Rd, Houston,...

SkyWalker Property Partners Acquires Property In Houston From Aegon USA Realty Advisors
SOLDOffice

SkyWalker Property Partners Acquires Property In Houston From Aegon USA Realty Advisors

7600 W Tidwell Rd, Houston, TX, 77040

Building Size

141,480 SF

Asset Type

Office

Closing

Mar 8, 2018

AI

The property involved in this transaction is an office building located at 7600 W Tidwell Rd, Houston, TX, 77040. The asset is known as One Northwind Plaza, which spans 141,480 square feet and features eight stories. The building was completed in 1980 and has undergone several renovations since 2010, including upgrades to various amenities and systems.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Buyer: SkyWalker Property Partners
  • Seller: Aegon USA Realty Advisors
  • Buyer’s Representative: Clint Holland
  • Market: Houston
  • Size: 141,480 square feet

JLL Capital Markets represented the seller, Aegon USA Realty Advisors, during the acquisition. Pinnacle Bank provided $6.8 million in acquisition financing for the transaction. One Northwind Plaza includes facilities such as a conference center, deli, 24-hour security, on-site property management services, and a two-story parking garage, enhancing its value as a commercial property.

Players

Rick Goings

JLL

Broker

$115M

vol

37 deals

Broker
SP
SkyWalker Property PartnersBuyer

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