Wed, 08/27/2014 - 18:09 — HFF
DALLAS, TX - August 27, 2014 – HFF announced today that it has closed the sale of Barton Oaks Plaza II and III, two Class A office buildings totaling 237,835 square feet in southwest Austin.
HFF marketed the property exclusively on behalf of the seller, a joint venture between HPI Real Estate and Sarofim Realty Advisors. Invesco Real Estate purchased the assets for an undisclosed amount.
Barton Oaks Plaza II and III are located on 6.79 acres in the Barton Oaks Plaza complex at the intersection of MoPac Expressway and Bee Caves Road. The buildings, approximately five minutes from downtown, are close to the Austin residential neighborhoods of Tarrytown, Rollingwood and West Lake Hills. The five-story buildings are 90 percent leased to a variety of tenants, including Fiserv Solutions, Graeber Simmons & Cowan, American Association of Nurse Practitioners, Oppenheimer and Parsons Brinkerhoff.
Sarofim is a registered investment advisor founded in 1982 that provides real estate investment management services to a select number of long-term clients. Clients include a diverse and distinguished list of endowments, foundations and other institutions, including some of the nation’s largest pension funds. The firm is a wholly owned corporate subsidiary of Fayez Sarofim & Co., a nationally recognized investment advisory firm specializing in the management of equity investments on behalf of institutions and individuals since 1958.
HPI Real Estate Services & Investments, based in Austin, is the largest leasing and management services company in Central Texas with more than 14 million square feet. Throughout its 22-year history, HPI has acquired or developed more than 12 million square feet of office, industrial, retail and multifamily product. Learn more at www.hpitx.com.
Established in 1983, Invesco Real Estate manages $61.5 billion of real estate investments, which includes $34.7 billion in direct real estate portfolios and $26.8 billion in real estate securities (as of June 30, 2014). Invesco Real Estate has more than 389 employees in 20 offices throughout the U.S., Europe and Asia. The group focuses on top-down market and property type fundamentals combined with bottom-up local market intelligence. Senior members of the management team have worked together for 24 years, contributing to the consistent implementation of Invesco’s investment strategy. Additional information is available at invescorealestate.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.