DFW Land Real Estate Acquires 71-Acre Prosper Development Site From Standridge Companies And Columnar Holdings
Building Size
—
Asset Type
Development Site
Closing
May 14, 2024
AI
The 71-acre development site located at 433 South Dallas Parkway in Prosper, Texas, was recently acquired by DFW Land Real Estate. This acquisition adds to their portfolio, as it is adjacent to another 110-acre property purchased last summer.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not disclosed
- Asset Type: Development Site
- Location: 433 South Dallas Parkway, Prosper, Texas
- Market: Prosper
David Davidson Jr and Edward Bogel from Davidson Bogel Real Estate facilitated the transaction, representing the buyer and the sellers, Stacy O Standridge from Standridge Companies and Daniel Traylor from Columnar Holdings. The strategic location of this property near major developments underscores the region's growth and increasing population trends.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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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