AUSTIN--Dividend Capital Diversified Property Fund Inc. (DPF), a public reporting, daily NAV REIT, has acquired the City View portfolio for $68.75 million. DPF funded the acquisition through cash on hand and availability under its revolving credit facility.
Representatives for Denver-based DPF declined to comment beyond a press release.
City View is comprised of four adjacent class A office buildings in the southwest submarket. Three of the buildings were built in 1985 while the fourth building was completed in 1998. The buildings combine to approximately 274,000 net rentable square feet and are 99 percent leased to 22 tenants.
"The acquisition of City View supports our stated investment strategy by adding a high-quality asset with a diverse tenant roster in a market that we believe has strong long-term fundamentals. Strategically, the acquisition adds to our presence in Austin, which we believe produces operational benefits for DPF," Michael Lynch, president of DPF, said in a press release.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
