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Crimson Sells Austin Office Properties

AUSTIN—Houston-based Crimson Real Estate Fund, L.P. (CREF) and investment partners, Admiral Capital Group and USAA Real Estate Company announced the sale of three office properties in northwest Austin, Texas.

By Analee Bivins Micheletti | Updated on February 06, 2014

AUSTIN— Demand for office investments in Texas continues to be strong due to healthy job growth across the state and increasing occupancy rates. Houston-based Crimson Real Estate Fund, L.P. (CREF) and investment partners, Admiral Capital Group and USAA Real Estate Company announced the sale of three office properties in northwest Austin, Texas.

Fortis Property Group of New York purchased the buildings for an undisclosed price. The Austin portfolio includes 205,000-square-foot Aspen Lake, 174,448-square-foot Tower of the Hills and 178,000-square-foot Tower Point located at the intersection of U.S. Highway 183 and State Highway 45.

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