Kennington Commercial Acquires Office Building At 1825 Lakeway Drive In Lewisville
1825 Lakeway Drive, Lewisville, Texas 75057, United States
Building Size
108,433 SF
Asset Type
Office
Closing
Feb 8, 2022
AI
Kennington Commercial, led by Clayton Kennington, has acquired an office property located at 1825 Lakeway Drive in Lewisville. The transaction took place on February 9, 2022, and the asset spans approximately 108,433 square feet. The property was purchased from Libitzky Property Companies.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 1825 Lakeway Drive, Lewisville
- Market: Lewisville
- Buyer: Kennington Commercial - Clayton Kennington
- Seller: Libitzky Property Companies
The buyer's representative in this deal is Clayton Kennington from Kennington Commercial. The seller was represented by Tom Strohbehn and Scot Farber from Younger Partners.
Players
Lewisville 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