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1201 West 15th Street, Plan...

Updated Mar 11, 2025

Bridge Loan Secured For Plano Office Buildings At 1201, 1255, And 1309 W. 15th Street
FINANCEDOffice

Bridge Loan Secured For Plano Office Buildings At 1201, 1255, And 1309 W. 15th Street

1201 West 15th Street, Plano, Texas 75075, United States

$30,000,000

$102/SF

Building Size

293,821 SF

Asset Type

Office

Closing

Feb 7, 2022

About this deal

AI

The property involved in this transaction is an office building located at 1201, 1255, and 1309 W. 15th Street in Plano. The building has a total size of 293,821 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $30,000,000
  • Lender: Avatar Financial Group - Jerry Zevenbergen
  • Loan Type: Bridge Loan
  • Date: 02/08/2022

The lender for this transaction is Avatar Financial Group, with Jerry Zevenbergen representing them. The loan amount for this bridge loan is $30,000,000.

The office loan at 1201 West 15th Street, Plano, Texas 75075, United States in Plano, Texas financed for $30M in 2022. The building is 293,821 square feet, implying about 102 per square foot on the published price. Named participants on the 1201 West 15th Street, Plano, Texas 75075, United States loan are Jerry Zevenbergen. This page is the Plano, Texas file for the 1201 West 15th Street, Plano, Texas 75075, United States office financed: pricing, party profiles, and other closed office comps from the same Plano sit in the Market section below. Filter that Plano office set by closing date to see what else financed near 1201 West 15th Street, Plano, Texas 75075, United States around 2022. Published consideration for 1201 West 15th Street, Plano, Texas 75075, United States is $30M, dated 2022. Cite this Bridge Loan Secured For Plano Office Buildings At 1201, 1255, And 1309 W. 15th Street loan when underwriting similar office product around Plano, Texas.

Players

Jerry Zevenbergen

Avatar Financial Group

Lender

$34.5M

vol

3 deals

Lender
Avatar Financial Group
Avatar Financial GroupLender

Plano Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Deal FAQ

About $102 per square foot on a published $30M for 293,821 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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