Intercontinental Real Estate Finalizes Office Portfolio Sale in Austin

Sep 24, 2014
CoStar

Intercontinental Real Estate Corp., an SEC-registered investment adviser headquartered in Boston, MA, sold three office buildings in two separate transactions in suburban Austin, TX


StoneCreek I and II were constructed at 11920 and 11921 N. Mopac Expy., respectively, in North Austin. Positioned just north of the 1.3 million-square-foot mixed-use lifestyle center The Domain, the 239,819-square-foot, 97.9% occupied mid-rise complex is home to CoreLogic (First American Real Estate Solutions), Time Warner, Century Link, Intellimark, TSMC and Siemens


Canyon at Wild Basin measures 74,580 square feet at 115 S. Wild Basin Rd. in Southwest Austin. The three-story building is situated on Loop 360 in close proximity to the Bee Caves Rd. intersection and includes an adjoining two-story garage and executive parking under the building. Currently 80% leased, the property houses offices for Open Symmetry, Alliance Association Management, Downs & Stanford, Dynamic Computing Services, X1 Labs, Creative Solutions, Cloud 8 Sixteen, Powell & Leon, Human Software Group and Texas Republic Capital Corp


A private real estate fund advised by Dallas-based Crow Holdings acquired StoneCreek I and II, while local firm CapRidge Partners acquired the Canyon at Wild Basin. Intercontinental Real Estate sold the assets free and clear of existing debt


Andrew Levy and Todd Savage of HFF coordinated the sale of StoneCreek I and II, while Kelsey Roop of HFF brokered the sale of Canyon at Wild Basin



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