 |
| Cathy Nabours |
AUSTIN, TX –– HFF announces that it has closed the sale and arranged
financing for WestlakePlace, a five-story office building
totaling 61,740 square feet in Austin, Texas.
HFF marketed the property on
behalf of the seller, Moore & Associates, Inc., and procured the buyer,
Oakpoint Real Estate. Additionally, HFF worked on behalf of the buyer to
secure the 10-year, fixed-rate acquisition loan through Lincoln Financial
Group.
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| WestlakePlace, a five-story. 61,740 SF office building, 1515 South Capital of Texas Highway in the hills of Southwest Austin, TX |
OakPoint acquired the asset
using a portion of a $50MM capital infusion they received last year and is
seeking additional investments in the Austin and Nashville MSAs.
OakPoint plans to invest in additional capital improvements
in order to further enhance Westlake Place’s desirability for tenants.
 |
| Walter Saad |
Westlake Place has an
irreplaceable location at 1515 S. Capital of Texas Highway in the hills of
Southwest Austin.
The 2.5-acre site offers superior visibility and positioning
along Loop 360 and access to a highly amenitized area featuring the Village at
Westlake Shopping Center and Barton Creek Square, among others.
Additionally, the property is surrounded by some of Austin’s
most prestigious neighborhoods, including West Lake Hills, Rollingwood, Rob
Roy, Barton Creek and Lost Creek, and has an average household income within
one mile of the property of more than $225,000.
 |
| Drew Fuller |
Renovated in 2015,
Westlake Place has average floor plates of 12,500 square feet, offers scenic
hill country and downtown views and is 92% leased.
The
HFF investment advisory team representing the seller included managing
directors Cathy Nabours and Walter Saad and director Drew
Fuller.
 |
| Chris McColpin |
HFF’s
debt placement team representing the new owner was led by senior director Chris
McColpin.
Holliday
GP Corp. ("HFF") is a Texas licensed real estate broker.
About Moore & Associates,
Inc.
Moore
& Associates, Inc. is an owner-managed, full-service commercial real estate
investment, development and management firm serving affiliated and
independent clients throughout the Washington, D.C. and Austin, Texas
metropolitan areas.
CONTACTS:
CATHY
NABOURS
TX Lic.
#479015
HFF Managing
Director
(512) 532-1962
CHRIS
MCCOLPIN
HFF Senior
Director
(512) 532-1941
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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