Maitland Management Secures $20 Million Refinance For The Meridian And NorthPointe Centre
2711 Lyndon B Johnson Freeway & 12005 Ford Road
$20,000,000
$25/SF
Building Size
388,182 SF
Asset Type
Office
Closing
Feb 19, 2025
About this deal
AI
The Meridian and NorthPointe Centre are office buildings located at 2711 Lyndon B Johnson Freeway and 12005 Ford Road in Farmers Branch and Dallas. These properties encompass a total of 388,182 square feet and have recently secured a refinancing loan amounting to $20 million.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,000,000
- Landlord: Jimmy Hsueh - Maitland Management
- Consultant: Ari Raskas - ARZ Realty Capital
- Market: Farmers Branch & Dallas
- Loan Type: Refinance
Ari Raskas arranged separate refinancing deals from various lenders, facilitating the secured loan. The focus of the upcoming infrastructure upgrades includes enhancing facilities for data centers and server farms, with Bradford Cos. managing the leasing activities for the properties.
On the Map
$20,000,000
$25/SF
Office
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Players
Dallas 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93