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1400 Lavaca St, Austin, TX,...

Pacific Life Insurance Co. Loans $64.5M For Office Building On Lavaca St In Downtown Austin With Lender's Rep James T. Morris
FINANCEDOffice

Pacific Life Insurance Co. Loans $64.5M For Office Building On Lavaca St In Downtown Austin With Lender's Rep James T. Morris

1400 Lavaca St, Austin, TX, USA

$64,500,000

$3,071/SF

Building Size

21,000 SF

Asset Type

Office

Closing

Feb 12, 1920

AI

The property asset involved in the transaction is an office located at 1400 Lavaca St in Downtown Austin. The transaction took place on February 13, 2020. The property is owned by Pacific Life Insurance Co., represented by James T. Morris. The loan for this transaction was facilitated by NorthMarq, with Jim Lemos as the broker representative. The loan amount for this transaction was $64,500,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $64,500,000
  • Address: 1400 Lavaca St
  • City: Austin
  • Market: Downtown Austin

The key individuals and companies involved in this deal are James T. Morris, representing Pacific Life Insurance Co., and Jim Lemos, representing NorthMarq. They played a crucial role in facilitating the loan for the property transaction at 1400 Lavaca St in Downtown Austin.

Players

Jim Lemos

NorthMarq

Broker

$64.5M

vol

1 deal

Broker

James Morris

Lender

$77.4M

vol

4 deals

Lender

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

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93