John Holt & Benjamin Stephens Of Canyon Creek Real Estate Secures $236.5M Loan From Wells Fargo For One Eleven Congress In Austin
111 Congress Avenue
$236,500,000
$454/SF
Building Size
519,959 SF
Asset Type
Office
Closing
Aug 13, 2026
About this deal
AI
The One Eleven Congress office building, located at 111 Congress Avenue in Austin, TX, measures 519,959 square feet. The asset is part of a 30-story structure and is currently 90.1% occupied by tenants including Workrise Technologies, Wells Fargo, and Husch Blackwell. The property's acquisition involved a purchase price reported at $208 million.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $208,000,000
- Loan Amount: $236,500,000
- Loan Terms: five-year, interest-only
- Lender: Wells Fargo
- Landlord: John Holt & Benjamin Stephens
- Company: Canyon Creek Real Estate
John Holt and Benjamin Stephens represent Canyon Creek Real Estate in this transaction, securing $136.5 million in mortgage financing provided by Wells Fargo. The loan carries a 7.135% coupon and is structured as interest-only for the duration of five years.
Players
Austin Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93