May 20, 2022

Argosy Real Estate Partners Exits 900 Congress Office Building in Austin, TX

On March 7, 2022, a partnership controlled by Argosy Real Estate Partners exited its investment in 900 Congress, a five-story office building totaling 63,651 square feet located in Austin, Texas.  900 Congress was sold to an owner-user.

In April 2016, Argosy partnered with Cielo Property Group to acquire the property in an off-market transaction. The property is located on a prime corner in Austin’s Central Business District. The 900 Congress investment included the office building along with a 245-stall parking garage. The value-add business plan involved installing a new exterior glass curtain wall, renovating the lobby and other common areas, creating full floor tenant spaces, and leasing the vacant space.

Cielo Property Group is an Austin-based owner and operator of office properties, specializing in redeveloping and repositioning underutilized properties in central Austin submarkets.