Brandywine Realty Trust Sells 1M-SF for $333M
Brandywine Realty Trust sold a portfolio of five Austin-area properties, collecting $333.3 million for its efforts. The buyer was not disclosed; however, local media state the buyer as Starwood Capital Group of Connecticut. Specific properties weren’t identified, but the 1.16-million-square-foot portfolio matches up with what was previously reported:
- The two-building, 319,743-square-foot Encino Trace, 5707 Southwest Pkwy.
- The 270,711-square-foot Cielo Center, 1250 S. Capital of Texas Hwy.
- The two-building, 232,772-square-foot Crossings at Lakeline, 11001 Lakeline Blvd.
- The 205,195-square-foot Park on Barton Creek, 3711 S. MoPac Expwy.
- The 136,075-square-foot 7000 West at Lantana, 7000 W. William Cannon Dr.
In a separate transaction, the Radnor, PA-headquartered Brandywine will develop a 165,000-square-foot building at its Four Points project in northwest Austin. The $48-million office product is anticipated to deliver in Q2 2019.
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