Congress Block 19

Congress Block 19

Austin, Texas

Type
Land/Single Family
Acquired
October 2004
Sold
Ongoing
Fund
Cypress Realty IV

Acquisition of fee simple interests in two premier blocks in downtown Austin, as well as a long term leasehold interest on a 54,827 square foot parcel of land. Cypress’ ability to quickly underwrite and close presented the opportunity to acquire this property at a significant discount to market prior to the seller’s bankruptcy proceedings.