Sep 19, 2013
Brandywine sells stake in 1M-SF Austin office portfolio
AUSTIN - Penn.-based Brandywine Realty Trust has formed a joint venture with DRA Advisors LLC to acquire Brandywine's wholly owned office portfolio in the southwest submarket. The new partnership will...
AUSTIN – Penn.-based Brandywine Realty Trust has formed a joint venture with DRA Advisors LLC to acquire Brandywine’s wholly owned office portfolio in the southwest submarket.
The new partnership will pay the Pennsylvania REIT $330 million, with each company owning a 50 percent interest in the portfolio.
Closing on the transaction is anticipated for early fourth quarter 2013.
| Name | Address | Size (SF) | # of Buildings | Occupancy |
| Barton Skyway | 1221-1601 S. MoPac Expy. | 786,845 | 4 | 94.4% |
| Cielo Center | 1250 S. Capital of Texas Hwy. | 270,711 | 3 | 99.6% |
| The Park on Barton Creek | 3711 S. MoPac Expy. | 205,195 | 2 | 100.0% |
| 7000 West at Lantana | 7000 W. William Cannon Dr. | 136,075 | 2 | 100.0% |
| Total | 1,398,826 | 11 | 96.8% |
Read more at GlobeSt.com and PRNewswire.
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