Austin
Steadfast Makes Largest Purchase with $80M Austin Apartment Acquisition
Steadfast Income REIT acquired Meritage at Steiner Ranch in Austin for $80 million and The Belmont in the Dallas/Fort Worth Metroplex for $12 million, pushing its portfolio to more than 10,000 units in 43 apartment communities in 10 Midwestern and Southern states.
Construction Begins on Second Austin Westin Hotel
By Anca Gagiuc, Associate Editor The Westin brand is coming to downtown Austin. White Lodging Services Corp. announced the groundbreaking of a second Westin hotel in a statement to the American-Statesman. The other Westin is an eight-floor, 241-room hotel located at the Domain. The new development is a joint venture between White Lodging, the Harry […]
Cypress Real Estate Advisors Plans Mixed-use Development for Austin
Austin’s Burnet Road will make room for a new mixed-use project designed by Cypress Real Estate Advisors. The site doesn’t require any zoning modifications as it is zoned for vertical mixed-use development.
Austin’s Lotus Village for Sale Exclusively through Marcus & Millichap
A new apartment complex has been put for sale on the market as exclusive listing for Marcus & Millichap on a cash-to-existing-note basis. Lotus Village, built on 8.1 acres at 300 Fergusson Drive in north central Austin in 2012, has 222 units and is currently at 98 percent occupancy.
Brandywine Realty Trust Shares Austin Office Portfolio with DRA Advisors LLC
The less common marketing proposal placed by Brandywine Realty Trust a few months back has found its answer. The offer consisted of the intention to share ownership of the 1.4 million-square-foot office portfolio in Austin.
Karlin Real Estate Sells GMC Building to Gladstone Commercial Corporation
One of the four national Innovation Centers of General Motors Company has changed owners. Los Angeles-based Karlin Real Estate has rolled over the property located at 717 E. Parmer Lane in North Austin to Gladstone Commercial Corp. for $57.5 million, reports Austin Business Journal. At the same time, Gladstone announced it placed a 10 year non-recourse loan through Cantor Commercial Real Estate that covers at least part of the acquisition amount.
Gladstone Buys 320 KSF Class A Office Property in Austin
Gladstone Commercial Corp., a Virginia-based REIT, purchased 717 Parmer, a 320,000-square-foot, Class A office property from Karlin Real Estate.
Shorenstein JV to Build 2 Office Properties in Austin
Construction has begun on one of two new office buildings at The Domain, a 304-acre mixed-use community in northwest Austin being developed in a joint venture between Shorenstein Properties, Deutsche Asset & Wealth Management and Endeavor Real Estate Group.
Property Assessed Clean Energy Act To Be Reviewed by the City of Austin
Texas legislation has been modified on June 19 by Governor Rick Perry to allow commercial and industrial building owners to access low-cost, long-term financing in the private sector for energy-efficiency upgrades and water conservation. His signature makes the PACE program effective immediately.
OakPoint Acquires Briarcroft and Continental Buildings in Austin
Nashville-based OakPoint Investments purchased two of Austin’s office buildings in partnership with local Haverwood Management. Details about the transaction have not been disclosed.