New York real estate company buys Southwest Austin office building
Mar 20, 2014
Austin Business Journal
New York-based Clarion Partners purchased Las Cimas IV, an office property at 900 S. Capital of Texas Highway. The seller was KBS Capital Advisors of Newport Beach, Calif.
HFF Inc. represented both buyer and seller
A purchase price was not disclosed but the Travis Central Appraisal District valued the building at $30.1 million in 2013, down from $31.4 million the year prior
The five-story, 138,008-square-foot office property was completed in 2008 and is currently 93.5 percent leased to tenants such as Wilson Sonsini Goodrich & Rosati PC and Intersil Corp.
KBS purchased the property in 2011 from Dallas-based Lincoln Property Co. HFF handled that sale, as well
Clarion Partners also owns multifamily and industrial properties in Austin