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CBRE Secures $67.1M Acquisition Loan For Austin Office & Retail Portfolio

Property Image
FINANCED
$67,100,000
Colby Matzke
William (Bill) Chiles
Scott Peterson
+ 1

Texas

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Office547,395 SF
Financed 06/21/2023
the dealplayerscompscontact
Property Image
FINANCED

CBRE Secures $67.1M Acquisition Loan For Austin Office & Retail Portfolio

Austin

See Similar Deals
Office547,395 SF
Financed 06/21/2023
Colby Matzke
William (Bill) Chiles
Scott Peterson
+ 1
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$122
Total Square Footage:547,395 SF
Transaction Type:Loan

M.I.G. Capital has acquired a portfolio of 12 office buildings and one retail building in Austin's Braker Business Park. The portfolio spans a total of 547,395 square feet and sits on approximately 42 acres of land. The properties are located at an undisclosed address in Austin's market.

Summary of transaction details

  • Property Type: Office & Retail
  • Transaction Amount: $67,100,000
  • Loan Amount: $67,100,000
  • Loan Type: Acquisition Loan
  • Loan Terms: Five-year, nonrecourse loan

CBRE represented M.I.G. Capital in securing a $67.1 million acquisition loan for the portfolio. Bill Chiles, Scott Peterson, Colby Matzke, and Brian Cruz from CBRE served as the brokers in the deal.

Further information about the lender involved in the transaction was not disclosed.

Players

Brian Cruz
CBRE
Brian Cruz
5 deals$225.6M volume(858) 646-4794
BROKER
William (Bill) Chiles
CBRE
William Chiles
9 deals$436.7M volume
BROKER
Scott Peterson
CBRE
Scott Peterson
15 deals$728.2M volume
BROKER
Colby Matzke
CBRE
Colby Matzke
7 deals$328.8M volume
BROKER

Details

FINANCED
IMAGE: Bill Chiles, Scott Peterson, Colby Matzke & Brian Cruz DATE: 06/21/2023 ADDRESS: Portfolio MARKET: Austin ASSET TYPE: Office & Retail ~ SF: 547,395 ~ ACRES: 42 LANDLORD: M.I.G. Capital BROKERS: Bill Chiles, Scott Peterson, Colby Matzke (@ColbyMatzke)& Brian Cruz - CBRE (@CBRE) LOAN AMOUNT: $67,100,000 LOAN TYPE: Acquisition Loan LOAN TERMS: five-year, nonrecourse loan NOTE: CBRE secured a $67.1 million acquisition loan for a portfolio of 12 office buildings and one retail building in Austin's Braker Business Park on behalf of M.I.G. Capital. The lender's identity was not disclosed.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,100,000.00

Monthly NOI$447,333.33
Monthly Debt Service$424,117.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00