Thomas Properties acquires Austin office portfolio

theflyonthewall.com

Thomas Properties Group and California State Teachers’ Retirement System have jointly acquired an eight-building, three million-square-foot portfolio of office properties in downtown and suburban Austin, Texas. The portfolio was purchased from TPG-Austin Portfolio Syndication Partners, a venture among Lehman Brothers Holdings Inc. (50%), an offshore sovereign wealth fund (25%) and TPG/CalSTRS, LLC (25%). The portfolio was purchased for $859M before prorations and adjustments

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