Vanderbilt Office Properties, Hillwood and TriPost Capital Partners have joined forces to purchase The Towers at Williams Square in the Las Colinas Urban Center.
Newmark represented the seller and arranged acquisition financing for the joint venture. Newmark’s Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan represented the seller. Andrew Porteous arranged acquisition financing for the buyer. Beal Bank USA supplied the acquisition financing.
Originally constructed as a premier corporate campus, the property comprises three interconnected towers. Williams Square is anchored by a 26-story central tower that is flanked by two 14-story high-rises, plus an additional smaller office building and ground-floor retail.Â
The previous ownership team recently spent about $25 million in renovations across lobbies, tenant amenities and shared spaces. The asset is currently 76% leased. The property last traded in 2015, when a joint venture that included Vanderbilt and Apollo Global Real Estate paid $330 million.
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