FOR IMMEDIATE RELEASE
January 23, 2015
Contact: Lindsay Kaye, The Vista Companies, 281.395.5533, firstname.lastname@example.org
An investment group formed by Vista Equities Group and Vista Private Equity Group has purchased Park Central, a three story, 115,000 sq. ft. Class “A” office building. The building is located in North Central Austin in close proximity to I-35 and Parmer Lane.
Built in 2008, the building has high quality interior finishes and a state-of-the-art energy management system. The property was 83% leased at the time of the acquisition.
According to Woody Mann, Jr., Vista Equities Group’s President, “This acquisition fits well into Vista’s investment philosophy and we are pleased to be able to add a quality property, such as Park Central to Vista’s expanding presence in the Austin market.”
Under Vista’s direction, leasing responsibilities for Park Central will be handled by Austin-based ECR and property management services will be provided by Vista Management Company.
Financing for Park Central was provided by GE Capital Corp. and was arranged through Tyler Ford of HFF’s Houston office.
About Vista Equities Group
Vista Equities Group is part of the Vista Companies, a Houston‐based real estate services group led by longtime developer, Woody Mann. Vista Equities focuses on the development of new properties and the acquisition of existing income‐producing properties. Vista Equities’ sister firm, Vista Management Company, provides leasing and property management services for third party owners and Vista’s own investment partnerships. The senior development and property management team represents more than eighty‐five years of experience in the Texas real estate market. For more information on the Vista Companies, please visit www.vistahouston.com
About Vista Private Equity Group
Founded in 2006, Vista Private Equity Group (www.vistagroupllp.com) is focused on the development of new properties and the acquisition of existing income-producing properties. In addition, it seeks to make investments in private companies within the smaller end of the middle
market. Vista’s core investment focus is providing equity capital to support these types of businesses when they face a critical “transition” point – primarily ownership transitions or transformative growth initiatives.