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1800 Preston Park Blvd, Pla...

TerraCap Management Acquires 198,788 SF Office Property In Plano For Libitzky Property Companies & Sunwest Real Estate Group
SOLDOffice

TerraCap Management Acquires 198,788 SF Office Property In Plano For Libitzky Property Companies & Sunwest Real Estate Group

1800 Preston Park Blvd, Plano, TX 75093, USA

Building Size

198,788 SF

Asset Type

Office

Closing

Oct 25, 2020

AI

The office property located at 1800 Preston Park Blvd in Plano has been sold in a recent transaction. The property spans a total of 198,788 square feet, making it a significant asset in the market. The sale took place on October 26, 2020.

Summary of transaction details

TerraCap Management, led by Steve Good, acquired the property from the seller, Libitzky Property Companies & Sunwest Real Estate Group. The transaction was facilitated by the expertise of Creighton Stark and Chris Boyd from Colliers International, who represented both parties involved in the deal. Additional details regarding the sale price or any financing arrangements are not available.

Players

Chris Boyd

Colliers

Broker

5 deals

Broker
Steve Good

Steve Good

TerraCap Management

Buyer

$264.1M

vol

4 deals

Buyer
LC
Libitzky Property CompaniesSeller

Plano 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