Distressed Domain-Area Property Portfolio Sells for $102M at Auction
The Bankruptcy Court in Austin, approved the results of last week’s auction of thirteen single-story office/flex buildings and one retail strip center in one of the city’s most desired markets, The Domain. The $102,250,000 sale, brokered by Keen-Summit Capital Partners represents a nearly 36% increase over the $75.5+ million stalking horse bid. There were eight qualified bids over the stalking horse bid. This 550,000+ sq. ft. collection of properties on almost 44 acres represented a unique opportunity to own prime commercial real estate in a promising market.
The property was, at one time tied to Nate Paul’s World Class Holdings. He was forced to sell off some of the portfolio’s most desirable properties through the bankruptcy process. The thirteen building portfolio and strip center were part of his past holdings.
The portfolio is located on and about the intersections of West Braker Lane, Kramer Lane, and Metric Boulevard in North Central Austin.