Adler Realty Sells 11880 Greenville Avenue and Refinanced the Remaining Property Located at Forest Green Office Park
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.