Clarion Partners Pays $43.2 Million for Las Cimas IV

Mar 18, 2014
CoStar

New York City-based Clarion Partners acquired the Las Cimas IV office building in Austin, TX from KBS REIT III for $43.2 million, or about $313 per square foot


The newest of the Las Cimas buildings, Las Cimas IV was constructed in 2007 at 900 S. Capital of Texas Hwy. in southwest Austin. The five-story complex totals nearly 140,000 square feet and was awarded an Energy Star label in 2010, 2011 and 2013 for its operating efficiency


KBS REIT III initially acquired the building from Lincoln Property Co. in 2011 for $39.9 million


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