Cabot Oil & Gas, Houston, Texas

 
 

Cabot Oil & Gas
Houston, Texas

Office

Cabot-Oil-&-Gase-Houston-Texas.jpg
 

ACQUISITIONS STRATEGY

  • Premier six story office building.

  • Located in desirable western portion of Houston, Texas; “the Enclave”.

  • High growth area, due to ease of access to international and regional airport.

  • Virtually every major oil and gas company has a major corporate presence in Houston.

ASSET MANAGEMENT VALUE-ADD

  • Despite a relatively soft market the building still had vacant space upon acquisition.

  • Property acquired at $168 per square foot, virtually equivalent to developer’s construction cost.

  • Responsible for quickly leasing vacant space at the outset of the Houston market recovery.

  • Put in place a tax efficient structure with a portfolio loan paying investors an annual tax-free income return of 10.3%.

RESULTS

Sale Price: $31 MM .

Investor IRR: 16.9% p.a. over 5 years

 
OfficeCatherine Rhoades