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1221 S MoPac Expy Austin, T...

Brandywine Realty Trust Sells Austin Office Building For $53.3M
SOLDOffice

Brandywine Realty Trust Sells Austin Office Building For $53.3M

1221 S MoPac Expy Austin, TX 78746, USA

$53,300,000

$307/SF

Building Size

173,302 SF

Asset Type

Office

Closing

Sep 11, 2023

AI

A 173,302-square-foot office building located at 1221 South Mopac Expressway in Austin, Texas has been sold by Brandywine Realty Trust for $53.3 million. The property is part of the Barton Skyway development and the buyer's identity has not been disclosed.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $53,300,000
  • Square Footage: 173,302
  • Price per Square Foot: $308
  • Address: 1221 South Mopac Expressway, Austin, Texas
  • Market: Austin

Gerard H. Sweeney, the representative of Brandywine Realty Trust, finalized the sale of the office building. The transaction highlights the ongoing real estate activity in the Barton Skyway development in Austin, Texas.

Players

Gerard H. Sweeney

Brandywine Realty Trust

Broker

$53.3M

vol

2 deals

Broker

Austin Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.30%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93