Phillips Edison & Company Acquires Retail Center In Fulshear From Rycore Capital LP
6630 Fm 1463
Building Size
24,188 SF
Asset Type
Retail
Closing
Nov 24, 2024
About this deal
AI
The property involved in the transaction is a fully leased retail center located at 6630 Fm 1463 in Fulshear, Texas. This retail asset encompasses a total square footage of 24,188 square feet and is situated in a rapidly growing Houston submarket, featuring a mix of diverse tenants along with its proximity to major retail anchors.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 6630 Fm 1463
- Market: Fulshear
- Square Footage: 24,188
- Buyer: Phillips Edison & Company
- Seller: Rycore Capital LP
- Broker Representatives: Gianna New, John Indelli & Ryan West - JLL
JLL Capital Markets was instrumental in facilitating the transaction, acting on behalf of the seller, Rycore Capital LP, in the sale of the Shops at Cross Creek, underscoring their role in the growth and development of the retail market within the region.
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