AUSTIN, TEXAS — AFIAA, a Zurich-based foundation investing in international real estate, has acquired the Wells Fargo Tower in Austin.
Built in 1981, the 17-floor office tower features 280,000 square feet of space. Located at 400 W. 15th St. in the central business district, the building sits in close proximity to Interstate 35 and the University of Texas at Austin campus. The Wells Fargo Tower is currently 96 percent occupied with 23 percent of leases rolling to market rates by December. Amenities include a restaurant, a gym, conference facilities and a 750-space parking garage.
The Austin buy is the latest U.S. acquisition for AFIAA, which acquired an office building in northern Chicago 4 months ago. The company also owns one building in Columbus, Ohio, and two in Philadelphia. In January, AFIAA sold an office property in Manhattan.
The majority of the company’s assets are in Europe.
Terms of the transaction were not disclosed.