AUSTIN, TX-A Houston-based company has purchased a foreclosed office building in Austin. Crimson Real Estate Fund LP and its partner USAA Real Estate Co. have purchased Aspen Lake, a four-story, 205,000-square-foot building in Northwest Austin, from Wells Fargo Bank.
Since the owner Park At Aspen Lake II LP had $10 million in debt, it filed for bankruptcy protection. The property is situated near the crossway of State Highway 45 and U.S. Highway 183. Aquila Commercial LLC is managing the lease.For the full story, go to Houston Business Journal.
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