BH Properties Acquires 153K SF Office Building In Plano From Goldman Sachs
2701 Dallas Parkway
Building Size
153,238 SF
Asset Type
Office
Closing
Jan 16, 2024
About this deal
AI
Los Angeles-based BH Properties has acquired the 153,238-square-foot Parkway Centre IV office building in Plano, near Dallas, in one of the first North Texas office purchases of 2024. The deal was facilitated by the Dallas office of Newmark Group on behalf of an investment corporation representing Goldman Sachs, with specific terms undisclosed.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not disclosed
- Market: Plano
- Address: 2701 Dallas Parkway
- Buyer: Steve Gozini - BH Properties
- Seller: Goldman Sachs
- Broker: Chris Murphy - Newmark
Steve Gozini from BH Properties, represented by Chris Murphy of Newmark, has acquired the Parkway Centre IV office building in Plano, near Dallas. The seller of the property was Goldman Sachs. The specific terms of the deal were not disclosed.
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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