James M. Taylor Jr. Of Brixmor Property Group Acquires LaCenterra Lifestyle Center From Cathy Marcus For $223M
23501 Cinco Ranch Boulevard
$223,000,000
$545/SF
Building Size
409,000 SF
Asset Type
Retail
Closing
Jul 29, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 23501 Cinco Ranch Boulevard in Katy, Texas. The property, known as LaCenterra, encompasses 409,000 square feet and was sold for a total price of $223,000,000, translating to a price per square foot of $545.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $223,000,000
- Square Footage: 409,000
- Address: 23501 Cinco Ranch Boulevard
- Market: Katy
- Buyer: James M. Taylor Jr. - Brixmor Property Group
- Seller: Cathy Marcus - PGIM
James M. Taylor Jr. represents Brixmor Property Group, the buyer of the property, whereas Cathy Marcus represents PGIM, the seller. PGIM is noted to be representing institutional investors, and this particular retail center was originally developed by Vista Equities and Amstar Group.
On the Map
$223,000,000
$545/SF
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93