Protestant Episcopal Church Council Acquires Church Facility On Barker Cypress Road In Houston
3785 Barker Cypress Rd, Houston, TX 77084, USA
Building Size
194,200 SF
Asset Type
Other
Closing
Jun 17, 2020
AI
The Covenant Lutheran Church in Houston has sold its church facility located at 3785 Barker Cypress Road. The property, spanning 19,420 square feet, has been acquired by the Protestant Episcopal Church Council. The transaction was facilitated by brokers Tommy LeBlanc and Charlie Neuhaus from Avison Young, along with Carol Gray and Christina Hipps from International Church Realty.
Summary of transaction details
- Property Type: Church Facility
- Transaction Amount: Not disclosed
- Address: 3785 Barker Cypress Road
- Market: Houston
- Square Footage: 19,420 SF
The sale of the church facility at 3785 Barker Cypress Road in Houston was facilitated by brokers Tommy LeBlanc and Charlie Neuhaus from Avison Young, and Carol Gray and Christina Hipps from International Church Realty. The Covenant Lutheran Church sold the property to the Protestant Episcopal Church Council, marking a successful transaction in the Houston market.
Players
Houston Other Market Snapshot
Boundary boundary · Other · 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