Dallas, TX (July 8, 2011) Building C, comprising of 24,278 square feet was sold to its largest tenant, TESS. The sales price was $2,525,000 ($104 per square foot). The loan on the remainder of the property was set to mature in January 2012.
On July 12th we closed a new loan with Citigroup in the amount of $6,650,000 and paid off the balance of the previous loan. The new loan is fully amortized over thirty years, payable in ten years and bears interest at 5.64% per annum.
