Cousins Properties Sells Office Building In Austin For $174M
816 Congress Avenue, Austin, TX 78701
$174,000,000
$400/SF
Building Size
435,000 SF
Asset Type
Office
Closing
Dec 23, 2021
About this deal
AI
The sale of an office property in Austin has recently been finalized. The property, located at 816 Congress Ave., was sold by Cousins Properties, represented by Colin Connolly. The transaction took place on 12/23/2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $174,000,000
- Square Footage: 435,000
- Price per Square Foot: $400
- Market: Austin
Colin Connolly from Cousins Properties played a key role as the seller's representative in this transaction. The sale price of $174,000,000 reflects the value of this office property in Austin.
Austin 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93