The Monterey Tech Center, located at 4407 Monterey Oaks Boulevard in Austin, is a flex-office building encompassing 74,300 square feet and situated on 5.6 acres. This property has recently been acquired as part of a transaction facilitated by the Partners Real Estate’s Opportunity Fund V.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Date: 08/22/2024
• Buyer: Adam Hawkins - Partners Capital
• Lender: Brent Reed & Peyton Jones - Veritex Community Bank
• Market: Austin
• Asset Size: 74,300 square feet
• Site Area: 5.6 acres

The acquisition marks the third purchase by Partners Real Estate’s Opportunity Fund V, which aims to reach a minimum target of $70 million, having raised $40 million thus far. The financing for this acquisition was secured through Veritex Community Bank, represented in the deal by Brent Reed and Peyton Jones.