14643 Dallas Pkwy
14643 Dallas Pkwy, Dallas, TX, 75254
Building Size
210,465 SF
Asset Type
Office
Closing
Nov 19, 2023
About this deal
AI
The property asset involved in the transaction is Wellington Centre, a 210,465-square-foot office complex located at 14643 Dallas Pkwy, Dallas, TX, 75254. The asset is situated in the Dallas market and was constructed in 1986, with renovations completed in 2015. The property features a 10-story building accompanied by an adjacent parking garage on a three-acre site. Notable amenities include a cafeteria, tenant lounge, and outdoor seating areas.
Summary of transaction details:
- Property Type: Office Complex
- Transaction Amount: Undisclosed
- Address: 14643 Dallas Pkwy, Dallas, TX, 75254
- Market: Dallas
- Seller's Representative: Chase Tagen, Chris Murphy, Gary Carr, Robert Hill - Newmark
- Buyer: Pratt Street Capital
- Square Footage: 210,465
The transaction was facilitated by Newmark, with Gary Carr, Chris Murphy, Robert Hill, and Chase Tagen representing the seller, Taiwanese investment firm Fidelity Commercial. Pratt Street Capital acquired the asset in this closed transaction.
Players
Dallas 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93