DR Horton Acquires Development Site From Thakkar Developers In Plano For Mustang Square Project
4562 Texas Highway 121
Building Size
479,160 SF
Asset Type
Development Site
Closing
Oct 1, 2024
AI
The asset involved in this transaction is a development site located at 4562 Texas Highway 121 in Plano, which is part of a mixed-use development known as Mustang Square. This development includes 97 finished lots, with Phase 1 comprising 42 lots of attached and detached products. The asset is positioned strategically along SH 121 and Rasor Blvd, contributing to its appeal in the market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 4562 Texas Highway 121
- Market: Plano
- Buyer: DR Horton
- Seller: Thakkar Developers
- Broker: Chris Janowski & Blake Barnes - DuWest Realty
DuWest Realty successfully facilitated the closing of this transaction, representing the interests of both the buyer and seller. The development integrates residential and mixed-use components, highlighting its significance in the Frisco ISD area.
Plano 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