TIAA Provides $77.3M Loan For Office Property In Austin
FINANCED
$77,300,000
Texas
See Similar DealsOffice167,130 SF
Financed 08/09/2022
FINANCED
TIAA Provides $77.3M Loan For Office Property In Austin
2043 South Lamar Boulevard, Austin, Texas 78704, United States
See Similar DealsOffice167,130 SF
Financed 08/09/2022
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$462
Total Square Footage:167,130 SF
Transaction Type:Loan
2043 S. Lamar Blvd in Austin has been sold in a closed transaction. This office property spans 167,130 square feet and is located in a prime location in the Austin market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $77,300,000
- Loan Amount: $77,300,000
- Loan Terms: variable interest rate loan
TIAA served as the lender for this transaction. The landlord of the property is DivcoWest, represented by Stuart Shiff & Robert Mashaal as their broker representatives.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$77,300,000.00
Monthly NOI$515,333.33
Monthly Debt Service$488,588.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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