Apple Acquires Office Building In Austin For $140M
SOLD
$140,000,000
Texas
See Similar DealsOffice217,000 SF
Sold 08/30/2021
SOLD
Apple Acquires Office Building In Austin For $140M
320 South Capital of Texas Highway
See Similar DealsOffice217,000 SF
Sold 08/30/2021
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$645
Total Square Footage:217,000 SF
Transaction Type:Sale
The property involved in this transaction is an office asset located at 320 South Capital of Texas Hwy in Austin. The sale took place on August 30, 2021. The seller, GLL Real Estate Partners represented by Rainer Göbel, sold the property to the buyer, Apple Inc. represented by Tim Cook.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $140,000,000
- Address: 320 South Capital of Texas Hwy
- Market: Austin
- Seller: GLL Real Estate Partners - Rainer Göbel
- Buyer: Apple Inc. - Tim Cook
The property has a total area of 217,000 square feet. The price per square foot for this transaction was $645.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$497,390.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$663,671.42
Annual Debt Service$7,964,057.10
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