Ivy Cos. And 35 South Capital Acquire Austin's Casis Village From Bryant Family
2727 Exposition Blvd Austin, TX 78703, USA
Building Size
48,500 SF
Asset Type
Retail
Closing
Aug 21, 2023
About this deal
AI
Austin's Casis Village, a fully leased 48,500-square-foot retail center located at 2727 Exposition Boulevard, has been sold. The property sits on approximately 2.9 acres of land in the Austin market. The sale was finalized on 08/21/2023, with Endeavor Real Estate Group's Dan Frey acting as the broker for the transaction.
Summary of transaction details
- Property Type: Retail
- Sale Price: Not specified
- Square Footage: 48,500
- Address: 2727 Exposition Boulevard
- Market: Austin
Ivy Cos. and 35 South Capital jointly purchased Austin's Casis Village from the Bryant family. Ivy Cos.' Roger Plourde and 35 South Capital's John Morton represented the buyers in the transaction. The new owners have plans to renovate the property's appearance and improve its amenities, potentially enhancing its value and appeal to tenants.
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Retail
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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