Jivar Foty And Johnny Ganim Acquire Woodforest Shopping Center In Houston From Jay L. Cooke
11095 East Freeway Frontage Road
Building Size
197,231 SF
Asset Type
Retail
Closing
Jul 14, 2025
About this deal
AI
The property involved in this transaction is the Woodforest Shopping Center located at 10907-11095 East Freeway, Houston. This retail asset spans a total of 197,231 square feet. The property underwent a multi-year renovation which successfully increased its occupancy from 37% to 96%, and it has seen a $9 million increase in value due to new tenants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 197,231 SF
- Address: 10907-11095 East Freeway
- Market: Houston
- Buyer: Jivar Foty - Rise Group Investments
- Buyer: Johnny Ganim - Regional Properties
- Seller: Jay L. Cooke - Cooke Management
- Broker: Shawn Ackerman - Henry S. Miller
Jivar Foty and Johnny Ganim acquired the asset from Cooke Management, with Shawn Ackerman of Henry S. Miller serving as the broker for this transaction. The increased occupancy rate has been attributed to the addition of new tenants, which includes Memorial Hermann, Northern Tool, and Concentra.
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Retail
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Boundary boundary · Retail · 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