FINANCEDSpecial Purpose
Michael J. Gefter Secures $4,226,000 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 property asset involved in this transaction is a special purpose facility located at 511 Fm 1960 Rd, Houston. A loan amount of $4,226,000.00 was secured for this transaction.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $4,226,000.00
- Address: 511 Fm 1960 Rd
- Market: Houston
- Brokers: Michael J. Gefter
The deal was brokered by Michael J. Gefter, who represented the involved parties in this transaction, facilitating the terms of the loan agreement.
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