George Lancaster And Elizabeth Petersen's Hines Acquires Retail Property On Westheimer Road In Houston
3733 Westheimer Rd Houston, TX 77027, USA
Building Size
—
Asset Type
Retail
Closing
Jun 30, 2023
About this deal
AI
A retail property located at 3733 Westheimer Road in Houston has been sold. The transaction took place on June 30, 2023.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 3733 Westheimer Road
- Market: Houston
George Lancaster and Elizabeth Petersen are the buyers of the property. They are expanding the Manduu fitness studio brand in Houston and have acquired and remodeled the flagship location. They have plans to open additional locations in Tanglewood, Katy, Sugar Land, Clear Lake, and The Woodlands. The fitness studios will offer personalized sessions and body composition tracking.
No additional information is available regarding the sale price or size of the property.
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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