Cynthia Powell's HPI Real Estate Acquires Office Property On Mopac Expressway In Austin
901 South Mopac Expressway
Building Size
237,400 SF
Asset Type
Office
Closing
Feb 1, 2024
AI
HPI Real Estate Services & Investments has successfully reacquired Barton Oaks Plaza II and III in Southwest Austin, solidifying its position as the sixth-largest commercial property owner in Austin. The property, located at 901 South Mopac Expressway, spans a total of 237,400 square feet. The transaction was completed on 02/01/2024.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Market: Austin
- Buyer: Cynthia Powell - HPI Real Estate Services & Investments
- Seller: Andrew Schlossberg - Invesco
- Brokers: Andrew Levy & Kelsey Shebay - JLL
This deal emphasizes HPI Real Estate Services & Investments' strong position in the Austin office market. With the acquisition of Barton Oaks Plaza II and III, their portfolio now includes a total of 3.9 million square feet across 53 buildings. This move is expected to further bolster their presence in the commercial property sector.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93