Austin Real Estate Acquisitions, LLC Acquires Office Property In Austin For $108M
SOLD
$108,000,000
Texas
See Similar DealsOffice
Sold 10/06/2022
SOLD
Austin Real Estate Acquisitions, LLC Acquires Office Property In Austin For $108M
1000 Red River Street, Austin, Texas 78751, United States
See Similar DealsOffice
Sold 10/06/2022
Summary
TEXAS
Asset Type:Office
Transaction Type:Sale
An office property spanning 3.8 acres located at 1000 Red River Street in Austin has been sold for $108,000,000. The transaction took place on 10/06/2022 and the seller was The Teacher Retirement System. The buyer of the property is Austin Real Estate Acquisitions, LLC.
Summary of transation details
- Property Type: Office
- Transaction Amount: $108,000,000
- Address: 1000 Red River Street
- Market: Austin
- Asset Type: Office
- Acres: 3.8
Notable parties involved in the deal include Austin Real Estate Acquisitions, LLC as the buyer and The Teacher Retirement System as the seller.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,760,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$383,701.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$511,975.10
Annual Debt Service$6,143,701.19
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