Primehealth Acquires Kingwood Medical Office Building In $4.9M Deal
1330 Kingwood Dr Houston, TX 77339, USA
$4,900,000
$408/SF
Building Size
12,000 SF
Asset Type
Other
Closing
May 23, 2023
About this deal
AI
Primehealth Properties Trust LLC, a health care real estate acquisition and development firm, has acquired the Kingwood Medical Office Building in Houston for $4.9 million. The 12,000-square-foot property is located at 1330 Kingwood Drive in the Kingwood community. The medical office building is situated on a 1.24-acre lot and is strategically located near George Bush Intercontinental Airport, residential areas, and a nearby hospital. The acquisition aligns with Primehealth's expansion plans in the Southwest region.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $4,900,000
- Address: 1330 Kingwood Drive
- Market: Kingwood
- Acres: 1.24
- Buyer: Primehealth Properties Trust LLC - Claude Tindle
- Seller: Derrick Interests
- Brokers: Jim Gibson - Northmarq ; Longleaf Realty Partners LLC
- Square Footage: 12,000
- Price per Square Foot: $408
The acquisition of the Kingwood Medical Office Building by Primehealth Properties Trust LLC was facilitated by brokers Jim Gibson from Northmarq and Longleaf Realty Partners LLC. The property's strategic location near the airport and hospital makes it an attractive asset for Primehealth's healthcare real estate portfolio and expansion plans in the Southwest region.
On the Map
$4,900,000
$408/SF
Other
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Players
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Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93