Thorofare Capital Inc. Provides $24 Million Acquisition Loan For Austin Office Property
7501 North Capital of Texas Highway, Austin, Texas 78731, United States
$24,000,000
$182/SF
Building Size
131,275 SF
Asset Type
Office
Closing
Feb 23, 2022
About this deal
AI
The property involved in the transaction is an office space located at 7501 N. Capital of Texas Highway in Austin. It spans a total of 131,275 square feet and is situated on a 24-acre plot of land. The transaction took place on February 24, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $24,000,000
- Address: 7501 N. Capital of Texas Highway
- Market: Austin
- Square Footage: 131,275
- Acres: 24
Thorofare Capital Inc., represented by David Perlman, provided an acquisition loan of $24,000,000 for the property. The landlord in the transaction is Urbana Partners. The selling party was The RMR Group. The brokers involved in the deal were Eddie Prosser, Henry Johnson, Scott Sumida, Tal Savariego, and Daniel Cohen, all representing Meridian Capital Group.
On the Map
$24,000,000
$182/SF
Office
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Players
Austin 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93