Austin
Embrey Partners Opens Escape at Four Points in West Austin
Founded in 1974, San Antonio-based Embrey Partners has developed more than 31,000 apartments and six million square feet of commercial space. Recently they’ve announced the grand opening of their latest residential project, Escape at Four Points, in west Austin, Texas.
Hyatt Place Austin Downtown Purchased by Carey Watermark Investors for $87 Million
Hyatt Place Austin Downtown, the 296-room upscale select-service hotel located at 211 East 3rd Street was recently acquired by non-traded REIT Carey Watermark Investors. The hotel was ranked best in its category for the second year in a row by Business Travel News 2013 Hotel Chain Survey, and received the “Highest in Guest Satisfaction Among Upscale Hotel Chains” recognition by J.D. Power in 2013.
HFF Closes Sale of Las Cimas IV in Austin
Las Cimas IV, the newest of the Las Cimas Buildings, has changed owners. Holliday Fenoglio Fowler, L.P. (HFF) marketed the property on behalf of the seller, KBS Capital Advisors, and procured the buyer, Clarion Partners.
DivcoWest Buys 318 KSF Class A Office Campus in Austin
DivcoWest has acquired the Avallon, a 318,000-square-foot Class A office campus in Austin from Highbrook Investment Management.
April – Briefs/Sales & Development
Transaction Kicks off TCC, Hanover Co. Redevelopment in Austin; Avison Young Sells 1.6 MSF Chicago Distribution Center; TDG, Angelo Gordon Complete $110M Maryland Apartment Purchase; Ashford Buys Chicago’s Sofitel Hotel for $153M; Hudson’s Bay Co. Sells Toronto Tower for $650M; Partnership Grabs San Fran’s Mark Hopkins Hotel for $120M; Inland Makes Splash with $183M Hotel Purchase in Honolulu; KBS Acquires Salt Lake Tower for $170M.
Phase III of The Preserve at Mayfield Ranch Has Started
By Anca Gagiuc, Associate Editor Only twenty minutes away from Downtown Austin, between the Round Rock Mayfield neighborhood, Cedar Park, and Georgetown, is a gated, master-planned community that features an urban lifestyle and modern home designs. The developers recently announced the launch of Phase III of the project. After a successful Phase II, which is […]
Titan Bank Announces the Acquisition of Its Third Self Storage Property through Funding Loan
Titan Bank, NA announced the acquisition of a 342 unit Self Storage property in Austin through the funding of a $985,000 loan, marking its third Self Storage property. With this transaction they now own and manage approximately 1,000 self-storage units.
HFF Represents JCI Residential in the Sale of Silverado Crossings Class A Multi-housing Community
The newly constructed Silverado Crossing has been purchased by the Meagher Family Trust; JCI Residential was the seller, represented by HFF (Holliday Fenoglio Fowler, L.P.). Terms of the transaction were undisclosed, but the acquisition of the complex ran its course free and clear of debt, projecting full stabilization.
New West Cypress Hills Elementary School Will Open This Year Courtesy of MileStone Community Builders
Only 30 minutes from Austin’s downtown lie some of the most stunning views of beautiful hill country land, hundreds of acres accessible to greenbelts, trails, and parks surrounding the West Cypress Hills Lake Travis Community. The builder, MileStone Community Builders, LLC, recently announced that the new West Cypress Hills Elementary School will open in 2014.
Round Rock’s Cypress Semiconductor Campus Acquired by World Class Capital Group
By Anca Gagiuc, Associate Editor
The long abandoned Cypress Semiconductor campus in Round Rock has found its new owner. Austin-based World Class Capital Group LLC announced the acquisition from Cypress Semiconductor Corporation who closed the facility in 2009.