Updated Nov 28, 2024
Faropoint Acquires Industrial Properties In Richardson, Lewisville, Irving, Farmers Branch, Coppell & Arlington
1460 North Glenville Drive, Richardson, Texas 75081, United States
Building Size
760 SF
Asset Type
Industrial
Closing
Dec 19, 2022
About this deal
AI
An industrial property spanning 760,000 square feet has been sold in a recent transaction. The property is located at 1460 North Glenville Drive, 1301 Ridgeview Drive, 2220 Chemsearch Boulevard, 1601 Valley View Lane, 631 South Royal Lane, 1111 Northpoint Drive, and 2300 East Randol Mill Road, covering multiple markets including Richardson, Lewisville, Irving, Farmers Branch, Coppell, and Arlington.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not available
- Buyer: Faropoint - Jacob Rich & Vadim Greenberg
- Seller: Blackstone Real Estate Income Trust
- Brokers: Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee & Trevor Berry - Cushman & Wakefield
The buyer in this transaction is Faropoint, represented by Jacob Rich and Vadim Greenberg. The seller is Blackstone Real Estate Income Trust. The deal was facilitated by brokers Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee, and Trevor Berry of Cushman & Wakefield.
On the Map
Industrial
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Players
Richardson Industrial Market Snapshot
Boundary boundary · Industrial · 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