The Bank of America Office Tower located in Downtown Austin at 515 Congress Avenue was purchased by Stream Realty. Valued at more than $70 million according to the Travis County Central Appraisal District this will likely be one of the biggest Austin commercial real estate transactions of the year in 2013.
Stream Realty has undertaken some larger redevelopments in Houston and Dallas however this will be the largest redevelopment project for the Austin team. Tom Stacy, a long time Austin developer has owned the property for years and had plans to redevelop the project himself however decided to sell.
Read full story here