{"id":1004161542,"date":"2016-12-14T09:28:52","date_gmt":"2016-12-14T17:28:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161542"},"modified":"2022-12-08T12:13:17","modified_gmt":"2022-12-08T20:13:17","slug":"westmount-realty-capital-sells-austin-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westmount-realty-capital-sells-austin-office-portfolio\/","title":{"rendered":"Westmount Realty Capital Sells Austin Office Portfolio"},"content":{"rendered":"

By Anca Gagiuc<\/p>\n

\"The<\/a>

The Offices at Braker Center, Austin, Texas<\/p><\/div>\n

Austin, Texas<\/strong>\u2014Westmount Realty Capital LLC announced the sale of its 13 office-building portfolio acquired in April 2014. Eastdil Secured represented the seller in the transaction.<\/p>\n

The Offices of Braker Center are located on Kramer Lane and Metric Avenue between I-35 and MoPac Expressway, close to The Domain in the Braker Center area of Austin, Texas. The properties were built in the mid-1980s\u00a0as dock-high, light industrial buildings with low office finish-out. Over time, they have been transformed to include more than 90 percent of office finish-out, becoming a single-story, value-office campus.<\/p>\n

\"Braker<\/a>

Braker Map<\/p><\/div>\n

\u201cWestmount acquired this institutionally managed and maintained asset at an occupancy of 88 percent with stable cash flow,\u201d Clifford Booth, president & CEO of Westmount said in prepared remarks. \u201cThrough an extensive $1.5 million exterior facelift, Westmount repositioned and re-branded the project as \u2018The Offices at Braker Center\u2019 to enhance its appeal as a well-located office alternative to traditional multi-story office buildings.\u201d<\/p>\n

At the time of the deal, the 546,984-square-foot portfolio was more than 93 percent occupied by various tenants including Allergan Inc., Cenpatico, Integra Life Sciences and Renewal by Anderson. Additionally, throughout the Westmount\u2019s ownership, rents increased by more than 50 percent.<\/p>\n

\u201cThe greater Austin area is routinely recognized as a select location for corporate headquarters and supporting facilities,\u201d added Steve Kanoff, CIO & partner at Westmount, in prepared remarks. \u201cThe area has a strong regional infrastructure that is supported by a multi-tiered workforce, which makes it one of the strongest business environments in the United States.\u201d<\/p>\n

Images courtesy of Westmount Realty Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Offices at Braker Center were 93 percent occupied at the time of the deal.<\/p>\n","protected":false},"author":237,"featured_media":1004508552,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21743,21783,21742,21747],"tags":[33101,33100],"class_list":["post-1004161542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-deals","category-investment","category-latest","category-office","tag-eastdil-secured","tag-westmount-realty-capital"],"acf":[],"yoast_head":"\nWestmount Realty Capital Sells Austin Office Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/westmount-realty-capital-sells-austin-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westmount Realty Capital Sells Austin Office Portfolio\" \/>\n<meta property=\"og:description\" content=\"The Offices at Braker Center were 93 percent occupied at the time of the deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/westmount-realty-capital-sells-austin-office-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-14T17:28:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:13:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Offices-at-Braker-Center-Austin-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"940\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westmount-realty-capital-sells-austin-office-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westmount-realty-capital-sells-austin-office-portfolio\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Westmount Realty Capital Sells Austin Office Portfolio\",\"datePublished\":\"2016-12-14T17:28:52+00:00\",\"dateModified\":\"2022-12-08T20:13:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westmount-realty-capital-sells-austin-office-portfolio\\\/\"},\"wordCount\":284,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westmount-realty-capital-sells-austin-office-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/The-Offices-at-Braker-Center-Austin-Texas.jpg\",\"keywords\":[\"Eastdil Secured\",\"Westmount Realty Capital\"],\"articleSection\":[\"Austin\",\"Deals\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westmount-realty-capital-sells-austin-office-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westmount-realty-capital-sells-austin-office-portfolio\\\/\",\"name\":\"Westmount Realty Capital Sells Austin Office Portfolio - 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