Teacher Retirement System of Texas sells office complex in Austin

The $185 billion Teacher Retirement System of Texas has closed on the sale of its headquarters in Austin, located at 1000 Red River St., in the Innovation District.

The buyer was Austin Real Estate Acquisitions, a Delaware limited liability company and subsidiary of a publicly traded real estate investment trust, reported Austin American Statesman. Other local media outlets reported it to be Alexandria Real Estate Equities. The financial terms were not confirmed.

The two-building complex on 2.8 acres, occupying two full city blocks, totals 198,972 square feet of space.

It served as the pension fund’s headquarter for 50 years.