Tuesday , 27 September 2016
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MetLife to Sell 50 Percent Stake in Austin Trophy Tower

100 Congress building in Austin

100 Congress building in Austin

AUSTIN CBRE Capital Markets announces the opportunity to invest up to a 50 percent interest in a joint venture investing in 100 Congress, a 22-story trophy office tower in downtown Austin. The office tower has 411,536 rentable square feet and is 95 percent leased.

MetLife Investment Management the institutional investment management business of MetLife, Inc., has selected CBRE to market the opportunity.

A landmark on the downtown Austin skyline, 100 Congress was developed in 1987 by Lincoln Property Co. and MetLife and has been consecutively managed by MIM since then. In 2014, MIM completed a comprehensive and substantial renovation of the 100 Congress building.

“100 Congress presents a rare opportunity to invest in world-class levels of space and tenancy within the highly coveted downtown Austin market,” said John Alvarado, Senior Vice President, CBRE. “There truly is no better combination of quality and location—the very essence of core real estate—across the State of Texas.”

Alvarado, Russell Ingrum, Gary Carr, Todd Mills, and Robert Hill are representing MIM.

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