May 1, 2017 Comments Off on Apple-Leased Asset Acquired for Nearly $100M Views: 770 National News, Southwest, Texas

Apple-Leased Asset Acquired for Nearly $100M

Capital Ridge, a 216,511-square-foot office building in Austin, TX was acquired by Munich-based real estate fund manager GLL Real Estate Partners for $96 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. Terms of the transaction were not disclosed.

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