MSD Capital Provides $500M Recapitalization Loan For Mixed-Use Property In Austin
1009 South Congress Avenue, Austin, Texas 78704, United States
$500,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jan 12, 2022
AI
The mixed-use property located at 1009-1011 South Congress Avenue in Austin was recently involved in a closed transaction. The property spans approximately 2 acres and is situated in the bustling market of Austin.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $500,000,000
- Date: 01/12/2022
- Lender: MSD Capital
- Landlord: Turnbridge Equities - Andrew Joblon
The deal involved a recapitalization loan of $500,000,000. The loan was secured from MSD Capital, providing the necessary funds to support the transaction. Turnbridge Equities, represented by Andrew Joblon, acted as the landlord in this transaction.
Players
Austin Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93