HRD Interests Acquires Richmond Design Center In Houston From America Equifinance Corp
4009 Richmond Ave. Houston, TX 77027, USA
Building Size
25,441 SF
Asset Type
Retail
Closing
Jun 2, 2023
AI
The Richmond Design Center, a 25,441-square-foot shopping center located at 4009-4025 Richmond Avenue in Houston, has been sold. The property sits on 1.6 acres of land and was recently purchased by HRD Interests from America Equifinance Corp. The transaction was facilitated by John Hornbuckle of Cypressbrook Co., who represented the seller, and Joe Foty of The Blue Ox Group, acting as the buyer's representative.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Market: Houston
Cypressbrook Co. has successfully facilitated the sale of the Richmond Design Center in Houston. John Hornbuckle of Cypressbrook Co. represented the property, while Joe Foty of The Blue Ox Group acted as the buyer's representative on behalf of HRD Interests.
Players
Houston Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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