Tuesday, August 28, 2018

HFF announces The Luzzatto Company’s acquisition of Austin Oaks in Austin, TX


Austin Oaks Office Park, Austin, TX
DALLAS, TX –– HFF announces The Luzzatto Company’s acquisition of Austin Oaks, a 12-building office park totaling 445,322 square feet in Central Austin.

The HFF team marketed the offering on behalf of the seller, Spire Realty Group LP.  An affiliate of The Luzzatto Company, Inc. (TLC), a Los Angeles-based investment firm, purchased the asset and was assisted by HFF in securing the 10-year acquisition loan through a life company lender.

Marc Luzzatto
Situated on 31.4 acres along MoPac (Loop 1), Austin Oaks is Austin’s largest infill office park and is currently home to 140 tenants representing a diverse mix of industries, including financial services, healthcare, legal and technology. 

Originally constructed throughout the 1970’s and 80’s, the redevelopment will be designed by Austin-based Michael Hsu Office of Architecture and will place an emphasis on green initiatives and aesthetic elements such as art and landscaping. 

“I am excited to return to Austin, where I spent my law school years, and give something back to the community in the form of a wonderful and creative home for the dynamic business community that has evolved since my time at the University of Texas,” said Luzzatto Co. Chairman Marc Luzzatto.

  “I see a lot of similarities between the vibe in Austin and in Santa Monica/Silicon Beach, and we want to provide the same kind of creative environment at Austin Oaks that we have created in some of our properties in Silicon Beach.”

Michael Hsu

Hsu said. “We are thrilled to work on what may be the single most significant repositioning opportunity in Austin, if not all of Texas. The existing buildings create a perfect backdrop to transform this development into a modern reflection of Austin, which will blend with the city’s physical and business landscape.”

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.


CONTACTS:

ANDREW LEVY
TX Lic. #0413696
HFF Senior Managing Director
(214) 265-0880

PAUL BRINDLEY
HFF Senior Managing Director
(310) 407-2100

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990


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