Bank Of America Provides $95M Loan For Office Building In Irving
222 West Las Colinas Boulevard, Irving, TX, USA
$95,000,000
$111/SF
Building Size
850,000 SF
Asset Type
Office
Closing
Jun 21, 2020
AI
Located at 222 Las Colinas Blvd in Irving, this property is an office building with an area of 850,000 square feet. The asset sits on 11.2 acres of land, providing ample space for various office activities.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $95,000,000
- Address: 222 Las Colinas Blvd
- Market: Irving
- Landlord: Parallel Capital Partners Inc. - Jim Ingebritsen
- Lender: Bank of America - Brian Moynihan
- Broker: Newmark
- Loan Term: Five-year loan
The landlord of this property is Parallel Capital Partners Inc., represented by Jim Ingebritsen. The lender involved in this transaction is Bank of America, represented by Brian Moynihan. The brokerage services during this deal were provided by Newmark.
Players
Irving 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93