Four Points Centre bought by Pennsylvania company

Dec 23, 2013
Austin Business Journal

Four Points Centre in northwest Austin has been acquired by Brandywine Realty Trust, one of two deals announced by the Randor, Pa.-based property management company

Located at the intersection of Ranch Road and 4 Points Drive, Four Points Centre is valued at $41.5 million, according to a news release from Brandywine Realty Trust. The office properties acquired include two LEED-Gold three-story buildings with more than 192,300 square feet. The buildings are fully occupied. Brandywine also acquired adjacent land parcels for $5.8 million. The land parcels can house up to 480,000 square feet of additional office space

"The acquisition of Four Points Centre and the land parcels further expands our operating platform and provides a quality addition to our Austin portfolio at an attractive price along with a value-add development opportunity," said Gerard H, Sweeney, president and CEO of Brandywine Realty Trust in the statement

Brandywine Realty Trust also said it had acquired two prime downtown Philadelphia properties, One and Two Commerce Square, for $331.8 million

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