Nick Patel Purchases Office Building In Houston From Kamal Hussein And George Saleh
785 Greens Parkway
Building Size
124,480 SF
Asset Type
Office
Closing
Apr 30, 2025
AI
The property involved in this transaction is an office building located at 785 Greens Parkway in Houston. This asset spans a total area of 124,480 square feet. The transaction marks a significant event in the market for office assets in this area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 785 Greens Parkway
- Market: Houston
- Square Footage: 124,480
- Buyer: Nick Patel
- Seller: Kamal Hussein & George Saleh
- Broker Representatives: Brandon Wuntch & Drew Altmann - Cresa
This transaction is noteworthy as it represents the largest office deal in the Greenspoint area for the year. The involvement of brokers Brandon Wuntch and Drew Altmann from Cresa highlights key professionals in this significant transaction.
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