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
- Property Type: Office
- Transaction Amount: Not specified
- Seller: Libitzky Property Companies & Sunwest Real Estate Group
- Buyer: TerraCap Management – Steve Good
- Brokers: Creighton Stark & Chris Boyd – Colliers International
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
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