Asana Partners Acquires 155k SF Office Property In Dallas' Design District From FCP And Quadrant Investment Properties
150 Turtle Creek Boulevard
Building Size
155,000 SF
Asset Type
Office
Closing
Oct 4, 2023
AI
The 155,000-square-foot International on Turtle Creek property in Dallas' Design District has been sold. Asana Partners has purchased the property from a joint venture of FCP and Quadrant Investment Properties. Originally built in 1949 as a warehouse, the property was converted for creative and design firms in 2005. It is located along Irving and Turtle Creek boulevards.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned
- Address: 150 Turtle Creek Boulevard
- Market: Dallas
- Square Footage: 155,000 SF
The buyers of the property are Terry Brown, Sam Judd, and Jason Tompkins from Asana Partners. They acquired the property from the sellers, Esko I. Korhonen of FCP and Chad Cook from Quadrant Investment Properties.
Players
Dallas Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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