HN Capital Acquires Office Property On Turtle Creek Boulevard In Dallas For $2.5M
2999 Turtle Creek Blvd Dallas, TX 75219, USA
$2,500,000
Building Size
—
Asset Type
Office
Closing
Jun 9, 2023
About this deal
AI
An office building located at 2999 Turtle Creek Boulevard in Dallas has been sold for $2,500,000. The property was acquired by an affiliate of HN Capital Partners, a real estate investment firm. The building is situated in the Turtle Creek neighborhood and was originally intended to be developed into a Mandarin Oriental hotel. However, Tim Barton, the previous owner, lost a legal battle for the property. In addition to losing ownership, Barton is also facing federal criminal charges.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,500,000
- Address: 2999 Turtle Creek Boulevard
- Market: Dallas
HN Capital Partners, represented by Vipin Nambiar, emerged as the buyer in the deal.
Texas Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93