MSD Partners L.P Provides $176.2M Construction Loan For Mixed-Use Property In Dallas
2699 Howell Street, Dallas, TX 75204
$176,200,000
$503/SF
Building Size
350,000 SF
Asset Type
Mixed-use
Closing
Mar 17, 2022
AI
Located at 2699 Howell Street in Dallas, this mixed-use property spans 350,000 square feet and sits on 3.8 acres. The transaction took place on 03/18/2022 and involved a loan from MSD Partners L.P amounting to $176,200,000. The loan type was a construction loan. Stream Realty Partners, represented by Ryan Evanich, Marissa Parkin, Ramsey March, and Brad Dornak, acted as the landlord in this deal.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $176,200,000
- Address: 2699 Howell Street, Dallas
- Market: Dallas
- Square Footage: 350,000
- Acres: 3.8
JLL Capital Markets served as the brokerage team for this transaction, with Colby Mueck, Jim Curtin, De’On Collins, Rex Cruz, and Kristi Leonard representing the buyer, seller, landlord, or tenant involved. Additional individuals involved in the deal included Ryan Evanich, Marissa Parkin, Ramsey March, and Brad Dornak from Stream Realty Partners.
Players
Dallas 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93