Summit Office Park, the two-tower office complex on Summit Avenue near downtown, has been bought by Austin-based Pennybacker Capital.
The eight-story buildings, constructed in 1974 and totaling 242,482 square feet of Class A office space at 1200 and 1300 Summit Ave., was sold by Dallas-based Prescott Realty. The buildings were 95 percent leased at the time of the sale.
A sales price was not disclosed. The property is valued at $22.3 million by the Tarrant Appraisal District.
Prescott bought the property, which includes a parking garage on about 9 acres, in 2007 from Fort Worth’s Klabzuba family.
Holliday Fenoglio Fowler L.P., or HFF, marketed the property for Prescott and helped Pennybacker find financing. A seven-year loan was provided by ViewPoint Bank in Plano, HFF said.