Denver REIT ponies up $69M for Austin City View office park

AUSTIN – The City View office park at 1122 S. Capital of Texas Hwy. has been sold for $68.75 million.

Denver-based Dividend Capital Diversified Property Fund Inc. acquired the four building multi-tenant office park — about 274,000 sf — from Pearlmark Real Estate LLC of Chicago.

The City View portfolio was built between 1985 and 1998. Currently, it is 99 percent leased to 22 tenants.

Earlier this year, Dividend purchased Rialto I and Rialto II at 7500 Rialto Blvd. for $37.3 million.

On its website, Dividend also shows that it owns the the Austin-Mueller Health Center at 1345 Philomena St., which it purchased in 2008 shortly after the project was completed. That building covers 156,000 sf and is leased to Seton Healthcare Family.