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600 Las Colinas Boulevard East

Nuveen Green Capital And Lone Star PACE Provide $5.5 Million Loan To Convergent Capital Partners
FINANCEDOffice

Nuveen Green Capital And Lone Star PACE Provide $5.5 Million Loan To Convergent Capital Partners

600 Las Colinas Boulevard East

$5,500,000

$5/SF

Building Size

1,100,000 SF

Asset Type

Office

Closing

Oct 28, 2025

AI

The asset involved in this transaction is an office property located at 600 Las Colinas Boulevard East in Irving, Texas. The total square footage of the property is 1,100,000 square feet. The transaction is characterized by a loan amount of $5,500,000 designated for energy-efficiency upgrades.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,500,000
  • Address: 600 Las Colinas Boulevard East
  • Market: Irving
  • Lender: Sean Ribble - Nuveen Green Capital; Lee McCormick - Lone Star PACE
  • Landlord: Convergent Capital Partners

This financing arrangement included C-PACE funding specifically tailored for improvements to HVAC and automation systems already completed in 2024. The energy-efficiency upgrades are expected to reduce electricity consumption by 10% and potentially lead to savings of $7.3 million over the next 24 years.

Players

Lone Star PACE
Lone Star PACEBrokerage

Sean Ribble

Nuveen Green Capital

Lender

$193.1M

vol

9 deals

Lender
Lone Star PACE
Lone Star PACELender

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

2.88%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93