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3400 N US 75-Central Expy 1...

Rubenstein Mortgage Capital Provides $62M Acquisition Loan For Office Building In Richardson
FINANCEDOffice

Rubenstein Mortgage Capital Provides $62M Acquisition Loan For Office Building In Richardson

3400 N US 75-Central Expy 1000, McKinney, TX 75071, USA

$62,000,000

$198/SF

Building Size

312,345 SF

Asset Type

Office

Closing

Sep 26, 2022

AI

The office property located at 3400 N. US 75-Central Expy 1000 in Richardson has recently undergone a loan transaction. The property spans a total of 312,345 square feet and is categorized as an office space.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $62,000,000
  • Date: 09/27/2022
  • Market: Richardson
  • Lender: Rubenstein Mortgage Capital (RMC) - Andrew Murray
  • Landlord: Zeller Realty Group

The loan amount involved in this transaction is $62,000,000, and it falls under the category of acquisition loans. The lender for this deal was Rubenstein Mortgage Capital (RMC), represented by Andrew Murray. The landlord of the property is Zeller Realty Group.

Players

Rubenstein Mortgage Capital
Rubenstein Mortgage CapitalLender

Lometa 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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93