An investor group comprising Vanderbilt Office Properties, Hillwood and TriPost Capital Partners has acquired The Towers at Williams Square, a major office complex located in the Las Colinas Urban Center. The acquisition brings together three institutional owners in a new joint venture targeting a flagship corporate campus that has recently undergone a significant capital upgrade program.
Newmark served multiple roles in the transaction, representing the seller and arranging acquisition financing for the buyer. Newmark professionals Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan advised the seller on the disposition of the property. On the capital markets side, Newmark’s Andrew Porteous structured the acquisition financing on behalf of the buying partnership, with Beal Bank USA providing the loan.
Originally developed as a premier corporate campus, The Towers at Williams Square consists of three interconnected high-rise office towers. The complex is organized around a 26-story central tower that is flanked by two 14-story towers, creating a cohesive office environment designed for large corporate users. In addition to the three main towers, the campus includes a smaller office building and ground-floor retail space, positioning the property as a multi-building office destination within the Las Colinas Urban Center.
The prior ownership group recently completed approximately $25 million of renovations across the campus. Those upgrades focused on lobbies, tenant amenities and shared common areas, signaling an effort to keep the property competitive in a changing office market. Following the renovation program, the asset is reported to be 76% leased, reflecting a substantial in-place tenant roster with room for additional leasing. The campus last traded in 2015, when a joint venture that included Vanderbilt and Apollo Global Real Estate acquired the property for $330 million, underscoring the long-term institutional interest in this office asset.
The latest transaction extends Vanderbilt Office Properties’ involvement with The Towers at Williams Square through a new partnership structure alongside Hillwood and TriPost Capital Partners. With fresh capital, existing renovations and established bank financing through Beal Bank USA, the new ownership group is positioned to manage the campus through its next phase of leasing and asset management in the Las Colinas Urban Center.
