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
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