Namdar Realty And Mason Asset Management Acquire Office Asset In Houston From WP Carey For $66M
SOLD
$66,000,000
+ 1
Texas
See Similar DealsOffice1,047,748 SF
Sold 01/15/2026
SOLD
Namdar Realty And Mason Asset Management Acquire Office Asset In Houston From WP Carey For $66M
601 Jefferson Street
See Similar DealsOffice1,047,748 SF
Sold 01/15/2026
+ 1
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$63
Total Square Footage:1,047,748 SF
Transaction Type:Sale
The asset involved in the transaction is an office building located at 601 Jefferson Street, Houston, TX. The property has a sale price of $66,000,000 and encompasses a total square footage of 1,047,748, resulting in a price per square foot of $62.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $66,000,000
- Square Footage: 1,047,748
- Price Per Square Foot: $62
- Buyer: Namdar Realty + Mason Asset Management
- Seller: WP Carey
- Brokers: Kevin McConn & Jeff Hollinden - JLL
- Attorney: Ben Sedaghatzandi Esq. - Hakimi Law
Key individuals involved in the transaction include Igal Namdar, Jonathan Abda, Andrew Ebrani, Kevin McConn, and Jeff Hollinden, with the brokers representing the buyers in the deal. Ben Sedaghatzandi Esq. served as the attorney representing the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,520,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$234,484.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$312,873.67
Annual Debt Service$3,754,484.06
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