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500 South Congress Avenue, ...

World Class Property Company Refinances Mixed-use Assets In Austin For $42M
FINANCEDMixed-use

World Class Property Company Refinances Mixed-use Assets In Austin For $42M

500 South Congress Avenue, Austin, TX, USA

$42,000,000

Building Size

Asset Type

Mixed-use

Closing

Aug 28, 2021

AI

500 & 510 South Congress Ave, & 105 West Riverside Dr in Austin has been refinanced for $42,000,000. The mixed-use property, owned by Nate Paul's World Class Property Company, has attracted significant attention in the market.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $42,000,000
  • Loan Type: Refinance

This loan refinance deal involved Nate Paul's World Class Property Company as the landlord. The transaction, which took place on August 28, 2021, marks a significant investment in Austin's real estate market. Nate Paul's expertise and reputation in the industry played a crucial role in securing the refinancing loan for the mixed-use property.

Players

WC
World Class Property CompanyLandlord

Austin Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.38%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93