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Winthrop Sells One Riverwalk to USAA RealCo

SAN ANTONIO-As part of its massive portfolio restructuring plan, the Boston seller disposes of the 261,000-square-foot office tower to the local buyer.

By Amy Wolff Sorter | Updated on August 30, 2013

SAN ANTONIO-As part of a massive portfolio restructuring plan, Winthrop Realty Trust of Boston has sold the 261,663-square-foot One Riverwalk Place to local buyer USAA Real Estate Co. According to media reports in the seller’s home town, the sale of the class A office building is helping to make way for acquisitions of other properties, many in the southwest.

One Riverwalk Place, at 700 N. St. Mary’s, was developed in 1981. The transaction sales price was kept confidential, and the Bexar Central Appraisal District assesses the property at $19.6 million. Earlier this year, it was announced that CBRE was retained to help lease up the property, which was, at the time, 65% occupied.

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