MIG Real Estate Acquires 42-Acre Business Park In Austin With $67.1M Loan
1910 W Braker Ln Austin, TX 78758, USA
$67,100,000
$122/SF
Building Size
547,395 SF
Asset Type
Industrial
Closing
Jun 14, 2023
AI
MIG Real Estate has acquired a 42-acre business park in Austin with 13 buildings, including flex and research facilities, and one retail center. The property is located at 1910 West Braker Lane and has a total square footage of 547,395 square feet. The acquisition was supported by a $67.1 million loan secured by CBRE.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $67,100,000
- Address: 1910 West Braker Lane
- Market: Austin
- Size: 42 acres
The loan, provided by CBRE, was a five-year, non-recourse, floating rate loan. Bill Chiles of CBRE represented MIG Real Estate in the acquisition.
Players
Texas Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93