Updated Oct 28, 2024
Ledgestone Development Group Acquires Development Site In Austin With Loan From Maxim Capital Group
2001 West Anderson Lane, Austin, Texas 78757, United States
Building Size
104,108 SF
Asset Type
Development Site
Closing
May 1, 2022
About this deal
AI
The development site located at 2001/2013 West Anderson Lane in Austin has been sold in a closed transaction. The property, with a lot size of 104,108 square feet, was part of a development project. The official plans for this lot are currently being drafted, as indicated by a note from the broker. The attached image shows a similar rendering of the future plans for the building.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 2001/2013 West Anderson Lane, Austin
- Market: Austin
- Lot Size: 104,108 Sq Ft
The buyer, Ledgestone Development Group, represented by Cass Brewer and Jack Johannesmeyer, acquired the property in this transaction. The lender involved in the deal was Maxim Capital Group, with Adam Glick and Jason Bordenick representing the lending entity. The brokerage team that facilitated the transaction included Jordan Ray, Steven Buchwald, and Lexington Henn from Institutional Property Advisors.
On the Map
Development Site
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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