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AUSTIN, TX –– HFF announces that it has closed the sale of UpCycle, an 81,660-square-foot creative office, adaptive-reuse project located on 6th Street in East Austin.
HFF represented the seller, a joint venture between EverWest Real Estate Investors, George Oliver Companies and WHI Real Estate Partners, and procured the undisclosed buyer. HFF had arranged original financing for the conversion on behalf of the seller in 2018.
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| Kelsey Roop Shebay |
Completed in 2018, UpCycle is the newest Class A creative office space in the East Austin submarket. The property is fully leased to H-E-B and features amenities, including patio space, conference space, collaborative areas, coffee bar, showers, fitness center and free on-site parking for employees.
Positioned on 3.06 acres at 2498 E. 6th Street in East Austin, UpCycle is just 1.5 miles from Austin’s central business district and is situated in the trendy East Austin neighborhood, which is surrounded by a host of new Class A apartments and entertainment venues.
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| Drew Fuller |
The HFF investment advisory team representing the seller included director Drew Fuller, senior director Kelsey Roop Shebay, senior managing director Coler Yoakam and director Michael George.
Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.
About EverWest Real Estate Investors
EverWest Real Estate Investors (“EverWest”) is a Denver-based private equity real estate investment manager founded in 1997. The firm invests in sectors and markets across the US, principally on behalf of institutional clients including corporate and public pension funds, endowments, family offices and foundations.
Since its founding, EverWest has invested over $3.5 billion in more than 200 transactions, exceeding 32.1 million square feet. Currently, EverWest has $3.8 billion of gross asset value under management across 115 assets totaling over 20 million square feet.
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| Coler Yoakam |
Since its founding, EverWest has invested over $3.5 billion in more than 200 transactions, exceeding 32.1 million square feet. Currently, EverWest has $3.8 billion of gross asset value under management across 115 assets totaling over 20 million square feet.
About George Oliver Companies
George Oliver Companies (“George Oliver”) is a Phoenix-based, privately owned commercial real estate investment and operating company formed in 2017.
George Oliver operates as a boutique real estate manager whose obsessive attention to detail in the design and construction of their buildings delivers a best-in-class tenant experience.
This end-user experience is what drives their investment strategies and attracts top employers and employees to their buildings.
George Oliver operates as a boutique real estate manager whose obsessive attention to detail in the design and construction of their buildings delivers a best-in-class tenant experience.
This end-user experience is what drives their investment strategies and attracts top employers and employees to their buildings.
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| Michael George |
About WHI Real Estate Partners L.P.
WHI Real Estate Partners L.P. ("WHIREP") is a real estate investment firm focused on repositioning middle-market properties throughout the United States. WHIREP seeks to generate attractive risk-adjusted returns by taking a highly-proactive approach to investment sourcing and asset management.
CONTACTS:
CONTACTS:
DREW FULLER
HFF Director
(512) 532-1900
KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
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