AUSTIN, TEXAS — Westmount Realty Capital LLC has acquired a 13-building, 546,984-square-foot portfolio in Austin. Originally developed in the mid-1980s for light industrial use, the structures are now primarily finished out as office space. Institutionally managed and maintained, the assets were 88 percent occupied at the time of the sale. The portfolio is located within the Braker Center business park, which is situated between I-35 and the MoPac Expressway in the North Central submarket. NorthMarq Capital secured the acquisition financing on behalf of the buyer. Westmount, which is based in Dallas, is planning to invest approximately $1.5 million in an architectural facelift and will rebrand the complex as The Offices at Braker Center. Jack Fraker, Josh McArtor, Jonathan Bryan and Heather McClain Venegoni of CBRE represented the sellers, Dallas-based Granite Properties and Austin-based Endeavor Real Estate Group.
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