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Tremont Mortgage Trust Provides $50M Bridge Loan For 296K SF Office Property In Dallas

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FINANCED
$50,000,000

Texas

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Office296,000 SF
Financed 09/02/2021
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Property Image
FINANCED

Tremont Mortgage Trust Provides $50M Bridge Loan For 296K SF Office Property In Dallas

10000 North Central Expressway

See Similar Deals
Office296,000 SF
Financed 09/02/2021
Contact now

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$168
Total Square Footage:296,000 SF
Transaction Type:Loan

The property involved in this transaction is an office building located at 10000 North Central Expressway in Dallas. The property spans approximately 296,000 square feet. The loan is being facilitated by Tremont Mortgage Trust, with Tom Lorenzini as the representative. Colliers International is the broker involved in this deal. The loan amount for this transaction is $50,000,000, and it is classified as a bridge loan. The loan terms include a three-year initial term with two one-year extension options.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: $50,000,000
  • Address: 10000 North Central Expressway, Dallas
  • Market: Dallas
  • Square Footage: 296,000
  • Lender: Tremont Mortgage Trust - Tom Lorenzini
  • Broker: Colliers International
  • Loan Type: Bridge
  • Loan Terms: three-year initial term, two one-year extension options

The key individuals and companies involved in this deal include Tremont Mortgage Trust as the lender, represented by Tom Lorenzini. Colliers International is acting as the broker for this transaction. These key players have facilitated the loan amount of $50,000,000 for the office building located at 10000 North Central Expressway in Dallas. The property spans approximately 296,000 square feet, making it a significant asset in the Dallas market.

Players

Thomas (Tom) Lorenzini
11 deals$302M volume(312) 236-0960
BROKER

Thomas (Tom) Lorenzini
RMR Mortgage Trust
11 deals$302M volume
LENDER

Thomas (Tom) Lorenzini
Seven Hills Realty Trust
11 deals$302M volume
LENDER

Thomas (Tom) Lorenzini
11 deals$302M volume
LENDER

Details

FINANCED
IMAGE: Jay Hennick DATE: 09/02/2021 ADDRESS: 10000 North Central Expressway MARKET: Dallas ASSET TYPE: Office ~ SF: 296,000 LENDER: Tremont Mortgage Trust - Tom Lorenzini BROKER: Colliers International LOAN AMOUNT: $50,000,000 LOAN TYPE: Bridge LOAN TERMS: three-year initial term, two one-year extension options

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,000,000.00

Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00