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
About this deal
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.
On the Map
$53,300,000
$307/SF
Office
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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