AUSTIN (Austin Business Journal) – Brandywine Realty Trust has bought out IBM Corp. at the Broadmoor campus at 11501 Burnet Rd. on the city's north side.
Brandywine and its predecessors and IBM had owned the campus in partnership since 1991.
The purchase price was not disclosed, but Brandywine's most recent 10Q filing with the U.S. Securities and Exchange Commission indicates it paid $211.4 million to IBM to buy out their 50 percent interest, which includes seven buildings — 1.1 million sf of office space — and 66 developable acres.
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