Bank OZK Provides $300M Construction Loan For 833,000 SF Office Building In Austin
FINANCED
$300,000,000
Texas
See Similar DealsOffice833,000 SF
Financed 05/03/2022
FINANCED
Bank OZK Provides $300M Construction Loan For 833,000 SF Office Building In Austin
401 West 4th Street, Austin, Texas 78701, United States
See Similar DealsOffice833,000 SF
Financed 05/03/2022
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$360
Total Square Footage:833,000 SF
Transaction Type:Loan
The office asset located at 401 W 4th Street in Austin has been involved in a closed transaction. The property spans an area of 833,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $300,000,000
- Market: Austin
The loan for this transaction was provided by Bank OZK. George Gleason, the CEO of Bank OZK, acted as the lender's representative. The landlord in this deal comprises Lincoln Property Company, Phoenix Property Co., and DivcoWest.
The loan type for this transaction is a construction loan, facilitating the development or renovation of the office asset at 401 W 4th Street in Austin.
Players
BROKERAGE
LENDER
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$300,000,000.00
Monthly NOI$2,000,000.00
Monthly Debt Service$1,896,204.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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