Shelbourne Global Solutions Acquires Plaza Of The Americas In Dallas's Largest Office Building Sale
600 North Pearl Street
Building Size
1,200,000 SF
Asset Type
Mixed-use
Closing
Oct 24, 2023
AI
Brooklyn-based Shelbourne Global Solutions has acquired the Plaza of the Americas in Dallas, Texas. The landmark complex consists of two 25-story office buildings and a shopping center located in a 15-story atrium. This acquisition marks the largest office building sale in North Texas this year, catering to the growing demand for office and retail leasing in downtown Dallas.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: Not disclosed
- Square Footage: 1,200,000 SF
- Address: 600 North Pearl Street, Dallas, Texas
- Market: Dallas
In this transaction, Shelbourne Global Solutions, represented by Bernard Bertram, acted as the buyer. The seller comprised two entities, M-M Properties, represented by Kenneth Moczulski, and Invesco Real Estate, represented by Andrew Schlossberg. The deal was facilitated by brokers Chris Murphy, Gary Carr, and Robert Hill from Newmark.
Players
Dallas 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