PIC Real Estate Acquires 129-Acre Land In Princeton, Collin County From Walton Global For Residential And Commercial Development
Building Size
—
Asset Type
Land
Closing
Dec 26, 2023
About this deal
AI
Walton Global has sold 129 acres of land in Princeton, Collin County, northeast of Dallas, to PIC Real Estate. The sale aligns with the Princeton Master Plan for residential and commercial development in response to the town's rapid population growth.
Summary of transaction details
- Property Type: Land
- Transaction Amount: Undisclosed
- Market: Princeton
- Buyer: Md Tauhid Choudhury - Tasacom Real Estate - PIC Real Estate
- Seller: Bill Doherty - Walton Global
PIC Real Estate, led by Md Tauhid Choudhury, purchased the 129-acre land from Bill Doherty of Walton Global. The deal was financed with a $12 million loan from Walton Global. The sale enables the Princeton Master Plan by providing land for residential and commercial development in response to the town's rapid population growth.
Players
Market Land Market Snapshot
Boundary boundary · Land · 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