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Brickman Claims Second Austin Asset for $63M

Brickman acquired the 181,381-square-foot 823 Congress office building in Austin, TX from Cielo Property Group. The New York-based buyer paid $63 million for the property, which delivered in 1970. Eastil Secured handled the transaction.

The 15-story building is near the State Capitol, and the tenant roster includes the Texas Tribune, Texas Mortgage Bankers Association and IBM Corp. Brickman is no stranger to Austin, having acquired Lavaca Plaza in 2012. During the hold period, Brickman invested $1.5 million to renovate the building, and leased it up.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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