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2701 Dallas Parkway

BH Properties Acquires 153K SF Office Building In Plano From Goldman Sachs
SOLDOffice

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

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.

Players

Chris Murphy

Newmark

Broker

$218M

vol

33 deals

Broker
Goldman Sachs
Goldman SachsSeller
Goldman Sachs
Goldman SachsLender

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