Planet Home Lending Leases 35471 Square Feet From BSREP Riverside LLC In Irving Texas
5000 Riverside Dr, Irving, TX, 75039
Building Size
35,471 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property asset involved is an office space located at 5000 Riverside Dr, Irving, TX, 75039. This lease transaction covers a total area of 35,471 square feet within Riverside Commons, a building constructed in 1987 and renovated in 2008, totaling 90,425 square feet within the Irving market.
Summary of transation details:
- Property Type: Office Lease
- Transaction Amount: Not specified
- Address: 5000 Riverside Dr, Irving, TX, 75039
- Landlord: BSREP Riverside LLC
- Tenant: Planet Home Lending
- Tenant's Representative: John Wolf-Newmark
- Market: Irving
- Square Feet: 35,471
John Wolf of Newmark represented the tenant, Planet Home Lending, during the lease negotiations. Cushman & Wakefield was the representative for the landlord, BSREP Riverside LLC, in this transaction.
On the Map
Office
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Players
Irving Office Market Snapshot
Boundary boundary · Office · Lease 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