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$9.5M Purchase of Industrial Facility by Gramercy Property Trust

$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…

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Velocis Forms Partnership With Moors & Associates Through the Acquisition of Two Office Buildings

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.…

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World Class Capital Plans to Reposition Crestview Crossing Post Acquisition

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.…

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Huffines Communities Invests in Waterford at Lake Travis

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,…

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Luxury Whitley Apartments for Sale with CBRE

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.…

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Brandywine RT and DRA Advisors LLC Form Joint Venture on $330 Million Office Properties

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…

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Simon Property Group’s Barton Creek Square to Undergo Food Court Renovations

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.…

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$30 Million Office Development Broke Ground at Fifth Street and Congress Avenue

$30 Million Office Development Broke Ground at Fifth Street and Congress Avenue

At 501 Congress Avenue, where the former annex of the Bank of America used to be, recently broke ground a $30 million office development. Stream Realty Partners purchased the site back in April in a partnership with four other firms.…

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Construction Begins on Second Austin Westin Hotel

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…

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Cypress Real Estate Advisors Plans Mixed-use Development for Austin

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.…

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Austin’s Lotus Village for Sale Exclusively through Marcus & Millichap

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.…

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Brandywine Realty Trust Shares Austin Office Portfolio with DRA Advisors LLC

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.…

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