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2699 Howell Street, Dallas,...

MSD Partners L.P Provides $176.2M Construction Loan For Mixed-Use Property In Dallas
FINANCEDMixed-use

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

DeOn Collins

Broker

$202.9M

vol

3 deals

Broker
MSD Partners
MSD PartnersLender
Ramsey March

Ramsey March

Stream Realty Partners⁠

Landlord

$176.2M

vol

3 deals

Landlord
Stream Realty Partners⁠
Stream Realty Partners⁠Landlord

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