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April 19, 2013

Metzler sells tech building in Austin

SEATTLE — Seattle-based Metzler Real Estate said it sold TechRidge Five, a 226,076-square-foot light industrial property at 905 W. Howard Lane in the industrial district of Austin, Texas, to an investment group called GH TechRidge Five for $24 million.

Metzler acquired the property in 2006 on behalf of a sponsored fund called Metzler US Real Estate Fund I, which represents high net-worth investors in Germany and the United States.

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