Austin is still receiving high praise from investors as Lionstone-Hermes Real Estate Venture has recently purchased University Park from HFF, who handles the listing for the property in behalf of the owners, Spear Street Capital. Although the full details of the deal are not released, it is said that the 206,657 square foot building is worth $40.8 million in estimate. The building was meant for retailers, hotels and residential use but this did not occur, having most of the offices leased to various groups. This deal is only one of the major dealings in Austin so far with seven highly coveted office investments currently in the market.
Read more about this here: *Investors still hot for Austin; University Park latest office to trade