CMI Developers Acquires Office Property In Houston From Shorenstein Properties
800 Bell Street, Houston, Texas 77002, United States
Building Size
1 SF
Asset Type
Office
Closing
Jan 17, 2023
AI
Located at 800 Bell Street in Houston, this office property encompasses a total area of 1,200,000 square feet. The transaction took place on January 17, 2023, with CMI Developers acquiring the property from Shorenstein Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Houston
The deal was facilitated by Jeff Hollinden and Rick Goings from JLL, who represented both the buyer, CMI Developers, and the seller, Shorenstein Properties, in the transaction.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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