CityView Center & CityView 1-3
Austin, TX
December 2011 - April 2015
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Property Type
Office
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Deal Type
Equity
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Deal Size
275,683 sq. ft.
- Opportunity to acquire a portfolio concentrated in Austin’s dominant suburban submarket in one of the strongest employment markets in the country
- Acquisition price represented a discount of 40% from Class A comparables
- CityView 1-3 was 83% occupied at acquisition, offering the ability to immediately capture increased tenant demand
- Completed capital improvements to lobbies, fitness center and exterior common areas totaling $1.6 million
- CityView Center was re-leased to 100% occupancy, with Apple Inc. occupying two floors; CityView 1-3 was re-leased to 99% occupancy
