Business Digest: NW Austin office property changes hands



REAL ESTATE

NW Austin office property changes hands

Long View Equity, an Austin-based real estate investment firm, said it has acquired the Houston Building, a 34,432-square-foot office property in Northwest Austin. The price was not disclosed.

The Houston Building has an assessed value of about $5.1 million, according to the Travis Central Appraisal District. The building was previously owned by 9015 Partners LLC, an entity that lists a San Antonio address, according to property records.

The three-story office building at 9015 Mountain Ridge Drive is fully leased by tenants including medical, technology and real estate companies.

Long View plans to refresh the common areas and intends to hold and manage the property long-term, according to a news release.

REAL ESTATE

N.C. company buys Austin apartment complex

North Carolina-based Bell Partners Inc., an apartment investment and management company, has acquired Aria Steiner Ranch, a 302-unit apartment complex in west Austin overlooking Lake Travis.

A purchase price was note disclosed.

The property, previously owned by Steiner Ranch Residences LLC, has an assessed value of $49 million, according to the Travis Central Appraisal District. Completed in 2015, the complex is 96 percent leased, according to a news release from Bell Partners.

The property has been renamed Bell Steiner Ranch and will be managed by Bell Partners.

ENTERTAINMENT

Netflix introduces offline video option

SAN FRANCISCO — Netflix subscribers can now binge on many of their favorite shows and movies even when they don’t have an internet connection.

The long-awaited offline option announced Wednesday gives Netflix’s 87 million subscribers offline access to videos for the first time in the streaming service’s decade-long history.

Netflix is matching a downloading feature that one of its biggest rivals, Amazon.com, has been offering to its video subscribers for the past year.

The new feature puts Netflix a step ahead of two other major rivals. Offline options aren’t available on HBO’s internet-only package, HBO Now, or Hulu, although that service has publicly said it hopes to introduce a downloading feature.

HOUSING MARKET

Pending home sales edge upward in October

WASHINGTON — The number of Americans who signed contracts to purchase homes edged up slightly in October, a sign that the housing market remains on sure footing after solid price and sales gains this year.

The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 0.1 percent to 110. Pending sales improved in the Northeast, Midwest and West, while falling in the South.

Many of the contracts were signed when 30-year mortgage rates were averaging less than 3.5 percent, close to a historic low. In recent weeks, average rates have jumped above 4 percent, making it costlier to buy a home.

The Mortgage Bankers Association reported Wednesday that applications for both new home loans and refinanced loans dropped over the past week.

ECONOMY

Eurozone inflation hits two-year high

LONDON — Food price increases helped push inflation across the 19-country eurozone to its highest rate in two and a half years, official figures showed Wednesday. However, the rise in the annual rate to 0.6 percent is unlikely to alter expectations that the European Central Bank will extend its stimulus program next week.

The rise in the November rate as reported by Eurostat, the European Union’s statistics agency, was somewhat of a surprise in markets following lower than anticipated German figures. Most economists had penciled in an unchanged rate of 0.5 percent.

Inflation in the eurozone is now at its highest since April 2014, when inflation stood at 0.7 percent.


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