Hines, CalPERS partner in Texas

Buy 22-story highrise

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

International real estate firm Hines and the California Public Employees' Retirement System (CalPERS) recently purchased a 22-story office tower in Austin, Texas, for an undisclosed amount. The 418,338-square-foot building, located at Congress and E. 3rd Street, was sold by a joint venture between Crescent Real Estate Equities Co. and Aetna. Parking is provided in a nine-level attached garage -- four levels below-grade parking and five levels above-grade. The office building was 84.7 percent leased at the time of sale to tenants that included AIM Management, A.G. Edward & Sons Inc., BearingPoint Inc., Citigroup, Guaranty Bank and RBC Dain Rauscher. ...