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
Plano Office Market Snapshot
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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