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77 Sugar Creek Center Blvd ...

InLight Capital Acquires 143K SF Office Building In Sugar Land From CWCapital
SOLDOffice

InLight Capital Acquires 143K SF Office Building In Sugar Land From CWCapital

77 Sugar Creek Center Blvd Sugar Land, TX 77478, USA

Building Size

143,410 SF

Asset Type

Office

Closing

Sep 5, 2023

AI

InLight Capital, a company based in Sugar Land, Texas, has recently completed the acquisition of 77 Sugar Creek Center Boulevard, an office building in southwest Houston. The property spans 143,410 square feet and is situated on 6.1 acres of land. The transaction was facilitated through an auction platform by JLL Capital Markets. The office building is strategically located, offering convenient access to the entire Houston metropolitan area.

Summary of transaction details

  • Property Type: Office
  • Square Footage: 143,410
  • Address: 77 Sugar Creek Center Boulevard
  • Market: Sugar Land

The buyer in this transaction is InLight Capital, represented by David Burch. On the selling side, CWCapital, represented by David Iannarone, facilitated the deal. The brokers involved in this transaction were Rick Goings, Marty Hogan, and Will Sledge from JLL. This acquisition presents a significant milestone for InLight Capital, expanding their presence in the Sugar Land area and enhancing their real estate portfolio.

Players

Rick Goings

JLL

Broker

$115M

vol

37 deals

Broker

David Burch

InLight Real Estate Partners

Buyer

$87.2M

vol

3 deals

Buyer
David Iannarone

David Iannarone

Seller

$18.4M

vol

2 deals

Seller

Sugar Land 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