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
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