Kilroy Realty Corp. Acquires Office Tower In Austin For $580M
SOLD
Texas
See Similar DealsOffice730,000 SF
Sold 06/17/2020
SOLD
Kilroy Realty Corp. Acquires Office Tower In Austin For $580M
200 West 6th Street
See Similar DealsOffice730,000 SF
Sold 06/17/2020
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$794
Total Square Footage:730,000 SF
Transaction Type:Sale
An office tower located at 200 West 6th Street in Austin has been sold for a total price of $580,000,000. The property spans 730,000 square feet, resulting in a price per square foot of $795. The transaction took place on June 17, 2021.
Summary of transaction details
- Property Type: Office Tower
- Transaction Amount: $580,000,000
- Address: 200 West 6th Street
- Market: Austin
Trammell Crow was the seller in this deal, while Kilroy Realty Corp. acted as the buyer. The brokers involved in the transaction were Allen Matkins and Eastdil Secured. Mike Lafitte and John Kilroy represented the respective parties in this transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$30,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,060,617.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,749,495.90
Annual Debt Service$32,993,950.83
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