Perry Brooks Tower
Property Overview
The Opportunity
Acquired a multi-tenant office tower in downtown Austin. At the time of the initial sales contract, the property was hindered by a ground lease with only 12 years remaining making the property unfinanceable. Before closing, restructured and extended the ground lease to 60 years solving financing issue and increasing the value of the asset. During ownership, restructured a highly favorable parking agreement with the adjacent Stephen F. Austin Hotel. We sold the stabilized asset to an institutional buyer in 14 months.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
Related Articles
Investment Summary
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