Updated Dec 4, 2024
Holt Lunsford Commercial Investments Secures $32.7 Million Loan From First United Bank For Development Site
670 Masch Branch Road
$32,700,000
Building Size
—
Asset Type
Development Site
Closing
Aug 21, 2024
About this deal
AI
The asset involved in the transaction is a development site located at 670-710 Masch Branch Road in Denton, Texas. The site has a gross building square footage of 451,856. It is specifically designated for industrial purposes, contributing to the expanding Denton Point campus.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $32,700,000
- Lender: First United Bank
- Landlord: Holt Lunsford - Holt Lunsford Commercial Investments
- Broker: Campbell Roche - JLL
- Loan Terms: five-year
The transaction saw Holt Lunsford Commercial Investments secure the loan to support the second phase of the Denton Point project, which involves the addition of three new buildings. This phase follows the earlier sale of the first phase to Westcore earlier this year.
On the Map
$32,700,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93