JV SELLS CAPITOL TOWER BUILDING FOR $49M

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AUSTIN — A joint venture between New York City-based Hudson Realty Capital and Pomeroy Investment Corp. has sold the 172,637-square-foot Capitol Tower office building, a Class A tower located in Austin, for $49 million. The 20-story office property is located at 206 E. Ninth St. in Austin's Central Business District and includes a 736-space on-site parking garage. The joint venture launched a comprehensive $10 million renovation program following its purchase in 2006. The property is fully leased to tenants including an advertising agency, legal firms, technology companies and marketing agencies.

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