NAI Partners Acquires Royal Montreal Plaza Retail Center In Katy, TX
2004 S Mason Rd, Katy, TX, 77450
Building Size
40,300 SF
Asset Type
Retail
Closing
Nov 22, 2023
About this deal
AI
The Royal Montreal Plaza is a 40,300-square-foot retail center located at 2004 S Mason Rd, Katy, TX, 77450, in the Katy market. The property was 97 percent leased at the time of sale to a mix of regional and local tenants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Seller: Unknown
- Buyer: NAI Partners
- Seller's Rep: Todd A. Carlson (Hunington Properties)
- Buyer's Rep: Andrew Pappas and Adam Hawkins (NAI Partners)
- Financing: Green Bank
Andrew Pappas and Adam Hawkins of NAI Partners facilitated the acquisition on behalf of NAI Partners, while Todd Carlson of Hunington Properties acted as the seller's representative for the undisclosed seller.
On the Map
Retail
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Players
Katy Retail Market Snapshot
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