AUSTIN – Houston-based Vista Lohman's Crossing, Ltd. has acquired The Towers of Lakeway, a two-building office complex totaling 56,000 square feet in west Austin. At the time of acquisition, the buildings were approximately 85% occupied.
“We are looking to expand our Texas portfolio and Austin is a great market with great demographics,” said Woody Mann, president of the Vista Companies.
Vista Lohman's Crossing, Ltd., is a real estate investment partnership formed by VistaEquities Group and VPEG. The Vista Companies is currently developing a second phase of the successful LaCenterra, a mixed-use development in Cinco Ranch, located west of Houston. Phase II of La Centerra is slated for completion summer 2014 and will include 130,000 square feet of retail space and 70,000 square of office space. Design plans for Phase III are currently in development and will feature a luxury multifamily project with 350 residential units by Martin Fein Interests of Houston.
HFF represented both the buyer and the seller in the Austin transaction. Acquisition financing for the buyer was provided by MC-Five Mile Commercial Mortgage Finance, who was represented by Tyler Ford of HFF's Houston office.
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