crefeed.com | Joint venture acquires 816 Congress in Austin, Tex.

7/10/2007

Joint venture acquires 816 Congress in Austin, Tex.

816 Congress

In a joint venture, Triple Net Properties, LLC and Lehman Brothers purchased 816 Congress in Austin, Tex., from Crescent Real Estate Equities for an undisclosed price.

Situated only a few blocks from the State Capitol, 816 Congress is located on the southwest corner of 9th and Congress.

The building was constructed in 1983 and has 433,024 square feet on 20 floors.

Russell Ingrum and Todd Mills of CB Richard Ellis represented Crescent Real Estate Equities.

Triple Net Properties, LLC is a wholly owned subsidiary of NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm. They manage a portfolio of more than 36 million square feet of real estate, including nearly 8,400 apartment units, with a combined market value of approximately $4.9 billion.

Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity.

Address816 Congress, Austin, Tex.

Size 433,024 square feet

Built1983

Filed Under: Office

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