JLL Arranges Financing For 3000 & 3100 Olympus Blvd In Coppell
3000 Olympus BLVD, Coppell, TX, 750...
Building Size
—
Asset Type
Office
Closing
Sep 25, 2019
About this deal
AI
3000 and 3100 Olympus Boulevard in Dallas are two office buildings totaling 467,366 square feet. JLL recently arranged permanent financing for the properties, with Allianz Real Estate of America providing a 15-year, fixed-rate loan. The proceeds from the loan will be used to retire construction debt after the buildings have been stabilized.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Undisclosed
- Address: 3000 Olympus Blvd, Coppell, TX, 750...
- Market: Coppell
- Borrower's Rep: Trey Morsbach (JLL)
- Lender: Allianz Real Estate of America
Trey Morsbach and Jim Curtin of JLL were instrumental in securing the financing for the borrower, locally based developer Billingsley Co. The loan, provided by Allianz Real Estate of America, marks a significant step in the ongoing development and stabilization of these office buildings.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93