Austin, Texas — Howard Michaels of Carlton Strategic Ventures and Avery Modlin of The Modlin Group have negotiated the sale of Dobie Center to Fowler Property Acquisitions LLC. Located in Austin, Dobie Center is the largest privately owned student dormitory at the University of Texas at Austin.
The property consists of a 27-story glass and steel residential tower, a 90,000-square-foot retail mall and a six-story, 250,000-square-foot, above-grade parking garage. Brian Kelly of HFF was the broker on the transaction.
The Carlton Group’s general counsel Daniel Bildner closed the transaction along with Larry Haber of Abrams Garfinkel Margolis Bergson LLP.
Dobie Center is located next to the University of Texas at Austin campus, opposite the soon-to-be-completed 458,000-square-foot McCombs Business School.