Boston investor shells out big bucks for one of downtown Austin’s newest skyscrapers

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics.

The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal.

McDonald is accustomed to pushing the envelope when it comes to securing top dollar.

Click to read more at Austin Business Journal.