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433 South Dallas Parkway

DFW Land Real Estate Acquires 71-Acre Prosper Development Site From Standridge Companies And Columnar Holdings
SOLDDevelopment Site

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

David Davidson Jr

Davidson Bogel Real Estate

Broker

$5.3M

vol

7 deals

Broker

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