One of Austin’s largest office towers sold in blockbuster deal
One of downtown Austin’s largest office towers has quietly been sold. Prudential Real Estate Investors, affiliated with Prudential Financial Inc. (NYSE: PRU), purchased 301 Congress Ave. from an entity managed by Commonwealth Partners — NOP 301 Congress LP — in late December, documents show.
Some real estate brokers with no firsthand knowledge of the deal said the property traded at a premium — more than $500 per square foot, possibly as much as $240 million.
Last year the Travis Central Appraisal District valued the 22-story property at $146.4 million.
View the original at Austin Business Journal