City Office REIT, Inc Acquires Lewisville Office Building For $43.8M
SOLD
$43,800,000
Texas
See Similar DealsOffice167,344 SF
Sold 06/15/2022
SOLD
City Office REIT, Inc Acquires Lewisville Office Building For $43.8M
2911 Lake Vista Drive, Lewisville, Texas 75067, United States
See Similar DealsOffice167,344 SF
Sold 06/15/2022
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$261
Total Square Footage:167,344 SF
Transaction Type:Sale
The office property located at 2911 Lake Vista Drive in Lewisville, Dallas, was recently sold for a total of $43,800,000. The transaction took place on June 15, 2022. The property, owned by City Office REIT, Inc and represented by James Farrar, is situated in the Lewisville market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $43,800,000
- Seller: City Office REIT, Inc - James Farrar
James Farrar of City Office REIT, Inc represented the seller in this deal. The sale of the office property represents a significant transaction in the Lewisville market, showcasing the demand and value of commercial real estate in the area.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,335,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$155,612.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$207,634.35
Annual Debt Service$2,491,612.15
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