GLL Real Estate Partners, a Munich, Germany-based real estate fund management group has acquired Capital Ridge, the 217,000-square-foot office tower in Austin, for $96.1 million.
The LEED certified, seven-story asset is fully-leased under a long-term deal to Apple, Inc.
Located in Austin’s desirable Southwest submarket, at 320 South Capital of Texas Highway, Capital Ridge delivered in 2015. The 38-acre site is situated atop a ridgeline offering unparalleled views of the Texas Hill Country, and is across from the 227-acre Wild Basin Preserve, which includes 2.5 miles of walking and bike trails.
Eastdil Secured marketed the property on behalf of the seller, a development joint-venture between Denver-based Miller Global Properties LLC and Austin-based Riverside Resources.
Jones Day has advised GLL Real Estate Partners, Inc. on the deal with a team led by Real Estate partner Scott Specht.
Involved fees earner: Scott Specht – Jones Day;
Law Firms: Jones Day;
Clients: GLL Real Estate Partners GmbH;