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150 Turtle Creek Boulevard

Asana Partners Acquires 155k SF Office Property In Dallas' Design District From FCP And Quadrant Investment Properties
SOLDOffice

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

Terry Brown

Asana Partners

Buyer

$169.4M

vol

5 deals

Buyer

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