Austin
Denver M-F Player Raises Profile in Lone Star State
The second largest institutional-quality Class A multifamily owner in Colorado is expanding its presence in the Lone Star State.
Austin is Home Sweet Homewood For a Houston REIT
The past two years have been extremely good for Austin, ranked by Forbes as the No. 1 and No. 2 fastest growing cities in the nation. The ranking combined with the city’s alluring features for REITs – a major university, professional and growing labor force, and the title of Texas State Capital – keeps the market dynamic and active.
Austin’s Newest DoubleTree Debuts
Nestled in the hills of northwest Austin, just 18 miles from Austin-Bergstrom International Airport, there’s a former Holiday Inn that put on a new glamorous attire. DoubleTree by Hilton Austin Northwest – Arboretum is its new identity and is a new member of DoubleTree by Hilton and Hilton Worldwide.
Taylor Morrison Makes Metro Austin Debut
Homebuilder and developer Taylor Morrison continues to expand its portfolio of 55+ communities and recently debuted its first one in Austin, in the fast-growing city of Round Rock. Six new model homes can be toured in Heritage at Vizcaya.
A10 Capital Funds Refinancing of 2 MOBs
Two medical office buildings from Austin’s metro have been refinanced through a $4.6 million bridge loan. The commercial mortgage has been funded by A10 Capital, is secured by the two Class B buildings, and provided leverage of approximately 65 percent.
Strategic Hotels Snaps Up Four Seasons
Strategic Hotels and Resorts recently announced signing an agreement to purchase the Four Seasons Austin Hotel for $197 million. The acquisition, expected to close in later this month, will initially be funded with existing cash balances and borrowings on its currently undrawn revolving credit facility.
Dividend Capital Pays $69M for Portfolio
Denver-based real estate investment trust Dividend Capital Diversified Property Fund Inc. has announced the acquisition of an office portfolio for $68.75 million. The subject of the transaction is a collection of four multi-tenant office properties located in the southwest submarket of Austin, at 1122 S. Capital of Texas Highway.
Berkadia Arranges Sale of Capitol Village Apartments in Austin
Austin’s Capitol Village Apartments, a 249-unit multifamily property, has a new owner. The deal was brokered by senior vice president George Deuillet III and vice president Forrest Bass of Berkadia’s Austin office.
Sackman Enterprises to Enter Austin with High-Rise
New York-based Sackman Enterprises announced its largest expansion outside of the Northeast in its 45 years. A 35-story luxury condominium tower, named 70 Rainey after its address, will be developed in the Rainey Street district, continuing the transformation of this downtown neighborhood.
CyrusOne Grows in Austin
CyrusOne, the global colocation provider, recently announced the next step in its Texas expansion: the purchase of an additional powered shell in Austin’s Met Center. The new Austin III data center is designed to be CyrusOne’s largest facility in Austin so far, encompassing 172,000 total square feet of shell and 120,000 colocation square feet. The development will feature up to 12 megawatts of power and over 25,000 square feet of class A office space.