Ascension Texas Acquires Office Property In Mueller Market District For $83.8M
SOLD
$83,760,000
Texas
See Similar DealsOffice156,024 SF
Sold 05/19/2020
SOLD
Ascension Texas Acquires Office Property In Mueller Market District For $83.8M
1345 Philomena Street, Austin, TX 78723
See Similar DealsOffice156,024 SF
Sold 05/19/2020
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$536
Total Square Footage:156,024 SF
Transaction Type:Sale
An office property located at 1345 Philomena St. in Austin's Mueller Market District has been sold. The property, with a total area of 156,024 square feet, was purchased by Ascension Texas from the seller, Black Creek Group, at a price of $83,760,000. This amounts to approximately $536 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $83,760,000
- Address: 1345 Philomena St.
- City: Austin
- Market: Mueller Market District
- Square Footage: 156,024
The buyer, Ascension Texas, acquired this office property from the seller, Black Creek Group. The sale closed on 05/19/20.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,467,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$297,581.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$397,065.13
Annual Debt Service$4,764,781.59
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