Pine Ridge Real Estate Acquires Uptown Plaza Retail Center In Houston's Prime Location
4715 Westheimer Rd Houston, TX 77027, USA
Building Size
28,000 SF
Asset Type
Retail
Closing
Jul 18, 2023
About this deal
AI
Pine Ridge Real Estate has acquired Uptown Plaza, a 28,000-square-foot strip retail center located at 4715 Westheimer Road in Houston. The property, situated in a prime location, offers strong retail fundamentals and potential for future redevelopment.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 4715 Westheimer Road, Houston
- Market: Houston
- Square Footage: 28,000
The acquisition was facilitated by JLL brokers Ryan West, John Indelli, and Erin Lazarus, who represented Pine Ridge Real Estate in the transaction. The purchase of Uptown Plaza adds to the buyer's portfolio and represents a strategic investment in Houston's retail market.
Players
Texas 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