Brandywine Realty Trust (NYSE: BDN
) closed on the purchase of Four Points Centre and related land parcels in northwest Austin from an affiliate of the former Thomas Properties Group for $47.3 million.
The office complex consists of two, three-story buildings at 11305 Four Points Dr. totaling 192,396 square feet. The pair of LEED-Gold buildings were built in 2008 and are fully leased.
The sale included $5.8 million for adjoining land parcels that are entitled to build up to 480,000 square feet of new office space.
Brandywine funded this acquisition out of pocket with available corporate funds. The Pennsylvania-based REIT now owns nine office buildings in Austin totaling 1.6 million square feet, including Barton Skyway, Cielo Center and Park on Barton Creek.