Austin
Joint-Venture Acquires Hampton Inn Austin Airport
A newly created joint venture between Hostmark Hospitality Group and Pendo Investments announced the acquisition of Hampton Inn Austin Airport.
Oracle Adds Third Office in Austin
The property at 7700 W Parmer Lane in Williamson County will accommodate Oracle’s new office. The building is currently occupied by Freescale Semiconductor Inc., who announced it would relocate its operations to South Austin by the end of 2013.
Forestar’s Eleven Welcomes Its First Tenants
The southeast corner of East 11th Street and Interstate 35, regarded as a gateway into East Austin, has been changed by the podium-style community developed by Forestar Group Inc. in partnership with Canyon-Johnson Urban Funds. The grand opening ceremony took place a few days ago and the first residents have already moved in.
$9.5M Purchase of Industrial Facility by Gramercy Property Trust
By Anca Gagiuc, Associate Editor
The real estate investment trust Gramercy Property Trust announced the acquisition of an industrial facility in Austin. The transaction went through after the company executed definitive agreements for a private placement of 11,545,200 shares of common equity at $4.11 per share. The Private Placement raised gross proceeds of $47.4 million.
Velocis Forms Partnership With Moors & Associates Through the Acquisition of Two Office Buildings
A new partnership has formed between Bethesda, MD-based Moore & Associates and Dallas-based Velocis Fund. The latter acquired the majority interest in two Class A office buildings: Arboretum Atrium at 9737 Great Hills Trails and Las Cimas I at 804 Las Cimas Blvd; the properties total 170,000 square feet.
World Class Capital Plans to Reposition Crestview Crossing Post Acquisition
Once opportunity is identified, creating value comes next. Under this principle World Class Capital Group announced the acquisition of a retail center in North-Central Austin. The exact address is 8120 Research Blvd, at the corner of Highway 183 and Anderson Square.
Huffines Communities Invests in Waterford at Lake Travis
Lago Vista, located northwest of Austin, offers many picturesque panoramic views of Lake Travis and the surrounding natural environment to its inhabitants and Huffines Communities knows it. For a second time, the Dallas-based real estate company stopped in the area to make investments; the first investment was the Waterford Marina, located on Lake Travis’ north shore at Mile Maker 21, an area popular for having the deepest water in the lake.
Luxury Whitley Apartments for Sale with CBRE
The Class A residential high-rise located in the heart of the Austin central business district, Whitley, is now listed for sale under the representation of CBRE Texas Multi-Housing Group. The building is located at 301 Brazos and was completed in 2013.
Brandywine RT and DRA Advisors LLC Form Joint Venture on $330 Million Office Properties
A new joint venture appears in Austin’s commercial sector. Brandywine Realty Trust, specialized in the ownership, management and development of urban, town center and office properties, has announced the newly created entity with DRA Advisors LLC. ‘The Venture’ will acquire Brandywine’s entire office portfolio from the Southwest submarket of Austin and each will own a 50 percent interest.
Simon Property Group’s Barton Creek Square to Undergo Food Court Renovations
Simon Property Management, the Indianapolis-based real estate company that owns a fairly large percentage of retail space in Austin, has started the remodeling works at the food court in Barton Creek Square shopping mall. Completion of the project is scheduled for November 2013.