Teacher Retirement System Acquires Mixed-Use Property In Austin From Shorenstein Properties LLC
1900 Aldrich Street, Austin, TX 78723
Building Size
800,000 SF
Asset Type
Mixed-use
Closing
Jan 3, 2022
About this deal
AI
The mixed-use property located at 1900 Aldrich St in Austin was recently sold in a closed transaction. The property spans across 750 acres and has a total area of 800,000 square feet. The transaction took place on January 3, 2022.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Address: 1900 Aldrich St, Austin
- Market: Austin
- Acres: 750
- Square Footage: 800,000
The buyer in this transaction was the Teacher Retirement System, represented by Brian Guthrie. The seller was Shorenstein Properties LLC, represented by Colby Wick. The deal was facilitated by brokers Troy Holme and Peter Jansen from CBRE.
On the Map
Mixed-use
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Players
Austin Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93