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DPF dips into Austin, ducks out of Dallas with buy and saleDPF dips into Austin, ducks out of Dallas with buy and salehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=18742015-01-27T09:38:00Z2015-01-27T07:55:00Z

AUSTIN, DALLAS - Dividend Capital Diversified Property Fund (DPF) has bought one Texas office property and sold another.

In Austin, DPF acquired Rialto I and II from Lincoln Property Co. for $37.3 million or approximately $240 per sf.

The 155,000-sf, two-story office portfolio is located at 7500 Rialto Blvd. within Southwest Austin's Lantana Corporate Center.

It is 94 percent leased to 21 tenants and features a 205-space parking garage.

In Dallas, DPF sold Park Place on Turtle Creek to a third party for $46.6 million or approximately $263 per sf.

The 177,000-sf, 14-story office property was constructed in 1986 at 2911 Turtle Creek Blvd. in Uptown. Renovated in 2012, the Class A property is currently 87.5 percent leased to 27 tenants.

Including these transactions, DPF owns 25 office properties totaling approximately 5.1 million sf.

CoStar Group
Austin-Round Rock
Office
http://www.costar.com/News/Article/Dividend-Capital-Buys-in-Austin-Sells-in-Dallas/168080Read more at {Source}

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