Dhanani Private Equity Group Acquires 84,678 SF Lifestyle Retail Center In Richmond Texas
18814 Harlem Road
Building Size
84,678 SF
Asset Type
Retail
Closing
Apr 28, 2025
About this deal
AI
A bankruptcy foreclosure proceeding was involved in the acquisition of a lifestyle retail center featuring a total square footage of 84,678 SF. The property is situated on 8.02 acres located at 18814 Harlem Road in the Richmond market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 18814 Harlem Road
- Market: Richmond
- Buyer: Nick Dhanani, Nikhil Dhanani, Nurali Wadhwani, Faiz Hirani, Junior Dhanani & Lucy Singh - DPEG Harvest Green, LP
The deal was officially closed by Dhanani Private Equity Group on April 29, 2025, marking a significant acquisition in their investment portfolio. This transaction highlights the involvement of the acquiring entity and the key individuals associated with this closed property deal.
On the Map
Retail
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Players
Richmond Retail Market Snapshot
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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