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600 North Pearl Street

Shelbourne Global Solutions Acquires Plaza Of The Americas In Dallas's Largest Office Building Sale
SOLDMixed-use

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

Gary Carr

Newmark

Broker

$352.5M

vol

33 deals

Broker
SS
Shelbourne Global SolutionsBuyer

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