Sandy P. Aron Acquires Retail Asset In Houston, Texas For $35M
$35,000,000
$188/SF
Building Size
185,591 SF
Asset Type
Retail
Closing
Feb 28, 2023
AI
A retail property in Houston, Texas has been sold for $35,000,000. The property, with a total area of 185,591 square feet, was acquired by Sandy P. Aron. The transaction took place on February 28, 2023, and the seller was Fidelis Realty Partners. The buyer's representative in the deal was Todd A. Carlson from Hunington Properties.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $35,000,000
- Market: Houston, Texas
- Square Footage: 185,591
Hunington Properties represented Sandy P. Aron in the purchase of this retail property portfolio located in the Houston MSA. The portfolio consists of seven properties, including medical and retail buildings. It is worth noting that the buyer assumed the existing securitized mortgage held by the seller.
Players
Market 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93