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MIG Real Estate Acquires 42-Acre Business Park In Austin With $67.1M Loan

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FINANCED
$67,100,000

Texas

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Industrial547,395 SF
Financed 06/14/2023
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Property Image
FINANCED

MIG Real Estate Acquires 42-Acre Business Park In Austin With $67.1M Loan

1910 W Braker Ln Austin, TX 78758, USA

See Similar Deals
Industrial547,395 SF
Financed 06/14/2023
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$122
Total Square Footage:547,395 SF
Transaction Type:Loan

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

William (Bill) Chiles
CBRE
William Chiles
9 deals$436.7M volume
BROKER
MIG Real Estate
MIG Real Estate
LANDLORD

Details

FINANCED
IMAGE: Bill Chiles DATE: 06/14/2023 ADDRESS: 1910 West Braker Lane MARKET: Austin ASSET TYPE: Industrial ~ SF: 547,395 ~ ACRES: 42 LANDLORD: MIG Real Estate (@MIG.Properties) BROKER: Bill Chiles - CBRE (@CBRE) LOAN AMOUNT: $67,100,000 LOAN TYPE: Acquisition Loan LOAN TERMS: five-year, non-recourse, floating rate loan NOTE: 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 purchase was backed by a $67.1 million loan secured by CBRE.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,100,000.00

Monthly NOI$447,333.33
Monthly Debt Service$424,117.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00