TIAA Provides $77.3M Loan For Office Property In Austin
2043 South Lamar Boulevard, Austin, Texas 78704, United States
$77,300,000
$462/SF
Building Size
167,130 SF
Asset Type
Office
Closing
Aug 8, 2022
AI
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.
Austin Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93