Michael J. Gefter Represents Lender In $4.226M Loan For Special Purpose Asset In Houston
511 Fm 1960 Rd
$4,226,000
$685/SF
Building Size
6,167 SF
Asset Type
Special Purpose
Closing
Jan 24, 2025
AI
The asset involved in this transaction is a special purpose property located at 511 Fm 1960 Rd in Houston. The loan amount secured for this property is $4,226,000.00.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $4,226,000.00
- Date: 01/24/2025
- Address: 511 Fm 1960 Rd
- Market: Houston
- Brokers: Michael J. Gefter
Michael J. Gefter is the broker representing the transaction, facilitating the loan arrangement for the special purpose property. His role in this deal underscores the professional support provided in securing financing for the asset.
Players
Houston Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.75%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93