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
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