Project Info
Acquired in 2019, this is a flex office building located within one of the most prominent technology parks in Richardson, Texas, which is a major suburb of Dallas. The building is leased on a NNN basis to 4 tenants. It was part of a complex 1031 exchange involving 2 separate assets. The project was acquired at an attractive cap rate and swap financing was arranged at an annualized interest rate that created a significant amount of positive leverage.
