HFF closes sale of Quarry Oaks I and II in Austin
DALLAS, TX – February 6, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Quarry Oaks I and II, a two-building, Class A office complex totaling 292,421 square feet in Austin, Texas.
HFF marketed the property on behalf of the seller, Principal Real Estate Investors, and procured the buyer, Goldman Sachs Asset Management (GSAM) Private Real Estate.
Quarry Oaks I and II is situated at 10900 Stonelake Boulevard within the Quarry Oaks Master Development that wraps around Quarry Lake in northwest Austin. The property is positioned between two major highways, MoPac (Loop 1) and US-183 (Research Boulevard), and is adjacent to The Domain, “Austin’s second downtown”, featuring more than 200 retail stores, hotels, office and residential space. Currently 100 percent leased, the property is home to tenants, including Forcepoint, Microsoft Corporation and Microchip Technologies. Tenants have access to the amenities within the master planned development, such as running trails, a fitness center (Pure Austin Fitness), Roaring Fork restaurant, Homewood Suites, SpringHill Suites and a Hampton Inn.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $72.2 billion in commercial real estate assets*. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
*As of Sept. 30, 2016.
About Goldman Sachs Asset Management (GSAM) Private Real Estate
Goldman Sachs Asset Management (GSAM) Private Real Estate focuses on investing across all major property types spanning the risk and return spectrum, sourcing opportunities in primary and secondary markets. The group employs an active management approach, seeking to drive returns for investors through asset management initiatives including renovating and rebranding assets, and implementing energy and operating efficiency programs to realize cost savings. The group has over $1 billion of assets under supervision (AUS) as of December 31, 2016 and is part of GSAM, one of the world’s leading investment managers with more than $1 trillion in AUS globally.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.