CHICAGO--(BUSINESS WIRE)--An affiliate of Walton Street Capital, L.L.C. (“Walton Street”) announced that it has acquired Eastlake at Tillery, a newly-developed, two-building, Class-A, LEED-certified office campus spanning 176,696sf, located at 3212 E. Cesar Chavez St. in the East Austin submarket of Austin, TX (“Eastlake at Tillery” or the “Property”) in partnership with Cypress Real Estate Advisors, Inc. (“CREA”).
Completed in 2021, Eastlake at Tillery offers attractive office amenities such as structured parking, touchless features, floor-to-ceiling windows, private tenant patios, indoor/outdoor café area, catering kitchen, fitness center and bike storage. The Property is currently 77% leased to two high-growth tenants with long-term leases.
The Property is located in the desirable East Austin submarket just 7 minutes east of downtown with convenient access to I-35 and Hwy 183.
"Eastlake at Tillery meets Walton Street's strategy of targeting differentiated, high-quality product in growth markets. We are excited to expand our portfolio to Austin with an asset featuring strong tenancy and unique, mission critical space," said Stephen Sotoloff, Senior Principal at Walton Street.
"We are thrilled about the addition of this Class-A office property to our portfolio and our new partnership with CREA. Eastlake at Tillery is designed to meet the needs of Austin's dynamic tenant landscape with its forward-thinking design and campus-like setting, which attracted a high-quality tenant roster even prior to building completion,” said Tom Jaeger, Principal at Walton Street.
About Walton Street Capital, L.L.C.: Walton Street is a private equity real estate investment firm that, since its inception in 1994 through its affiliates, has raised over $14 billion of capital commitments from a broad cross-section of sophisticated institutional investors. Walton Street’s principals have collectively acquired, financed, managed, and sold over $50 billion of real estate and have an average of 21 years of real estate industry experience. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over five separate decades and more than 40 years, forging long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers, and industry service providers.
About Cypress Real Estate Advisors, Inc.: CREA is a real estate investment manager headquartered in Austin, Texas. CREA invests in or develops primarily residential and mixed-use properties in high growth markets across the United States and has approximately $1.3 billion in assets under management. Since its inception in 1995, CREA has owned and/or developed over 25,000 multi-family units and over 2 million square feet of office/mixed-use space. CREA has also developed master planned communities with over 16,000 single family homes and is currently very active in the single family build for rent sector.