Union Investment sold the Texas Capital Center office property to a U.S.-based real estate investment company. Union Investment initially acquired the property at 2000 McKinney Ave. in 2016 for $226 million as part of its open-ended real estate fund, UniImmo: Global. Notably, in 2022, Texas Capital, the primary tenant, extended its lease early by an additional 16 years, reaffirming its commitment to the building through 2040. The property was first listed in June of this year. The sale price remains undisclosed.
Constructed in 2008, the Texas Capital Center boasts over 456,908 square feet of office space and parking for up to 1,347 vehicles. Approximately 95 percent of its 21 floors are dedicated to office use, with a smaller section allocated for retail.
Union Investments states that it is an active German asset manager offering customized investment solutions across all asset classes and regions.
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