GLL completes sale of two Class A office buildings in Austin, TX

July 30, 2018 - PRLog -- GLL Real Estate Partners, a member of the Macquarie Group, has completed the sale of Las Cimas II & III, a two-building Class A office development at the intersection of Loop 360 and Bee Caves Road in Southwest Austin.

The buildings total 313,716 square feet and are currently 91 percent leased to a diverse tenant base including Whole Foods Market, Tesla Motors and Jones Energy.  GLL had owned the buildings since 2013.

"GLL was one of the first international real estate institutions to see potential in the suburban Austin office market and we've been validated in our view by seeing tremendous growth throughout the Austin market over the last five years," said Christian Goebel, Executive Vice President, GLL. "These are high quality office buildings with strong cash flow for which we had fully executed our business plan. However, we continue to own, and will consider purchasing, strategic assets in this market," he added.

Last month, GLL purchased a fully leased logistics warehouse facility near Ft. Lauderdale, FL. In May 2018, GLL sold 202 Westlake, a Seattle office building fully leased to Amazon.

HFF exclusively represented GLL in the sale of the property.

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GLL Real Estate Partners is the real estate equity investment platform for Macquarie Infrastructure and Real Assets, a division of the Macquarie Group. A globally-active real estate fund manager and investment advisor headquartered in Munich, Germany, GLL operates 17 offices across the US, Europe, Asia, and Australia.  The group currently manages USD 8.4 billion, including more than USD 4 billion in the U.S. GLL employs varying commercial property strategies serving an investor group that includes pension funds, insurance companies and sovereign entities.