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Cousins Properties Sells Office Building In Austin For $174M

Property Image
SOLD
$174,000,000

Texas

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Office435,000 SF
Sold 12/23/2021
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Property Image
SOLD

Cousins Properties Sells Office Building In Austin For $174M

816 Congress Avenue, Austin, TX 78701

See Similar Deals
Office435,000 SF
Sold 12/23/2021
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$400
Total Square Footage:435,000 SF
Transaction Type:Sale

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.

Players

Colin Connolly
Colin Connolly
8 deals$991.8M volume
SELLER

Details

SOLD
IMAGE: Colin Connolly DATE: 12/23/2021 ADDRESS: 816 Congress Ave. MARKET: Austin ASSET TYPE: Office SELLER: Cousins Properties - Colin Connolly SALE PRICE: $174,000,000 SF: 435,000 ~ PPSF: $400

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$9,280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$618,185.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$824,848.77
Annual Debt Service$9,898,185.25