Andy Crosland Of Kobalt Investment Company Acquires Medical Office Buildings In Central Texas
6684 West Adams Avenue, 1001 Arbor Park Drive & 1009 Arbor Park Drive
Building Size
94,635 SF
Asset Type
Medical Office
Closing
Jul 2, 2025
AI
The transaction involved the sale of three medical office buildings located at 6684 West Adams Avenue and 1001 & 1009 Arbor Park Drive, situated in the Temple & Belton market. The total square footage of these properties is 31,545, and they are currently leased by Baylor Scott & White. The buildings were developed in 2013.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Undisclosed
- Buyer: Andy Crosland
- Buyer's Company: Kobalt Investment Company
- Broker: Seth Gilford
- Broker's Company: Transwestern
- Location: 6684 West Adams Avenue, 1001 & 1009 Arbor Park Drive
- Market: Temple & Belton
- Square Footage: 31,545
Andy Crosland of Kobalt Investment Company is the buyer in this transaction, while Seth Gilford from Transwestern acted as the broker. The seller of the properties and the transaction price have not been disclosed.
Players
Temple Medical Office Market Snapshot
Boundary boundary · Medical Office · 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