GLL Ends Hold on Las Cimas II and III

GLL Real Estate Partners GmbH ended its hold on Las Cimas II and III, two Class A office buildings totaling 313,716 square feet. Boston, MA-based Rockpoint Group LLC acquired the two buildings, which are situated on 3.5 acres in southwest Austin. HFF represented the seller in the transaction.

The seller is a German real estate fund manager, which acquired the assets at 805 and 807 Las Cimas Pkwy. for $88 million in 2013. The buildings were more than 90% leased at closing. Tenants include Jones Energy Inc., Tesla Inc. and Remora Royalties Inc.

The buildings are part of the Las Cimas Office Park, a four-building development totaling 544,823 square feet.

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