Three historic buildings in downtown Austin known as the Congress Commons were recently purchased by a New York investment firm.

On Oct. 4, New York Investment firm Clarion Partners LLC purchased three buildings on Congress Ave.: 315, 319 and 325 Congress Ave., according to KXAN News. The buildings are referred to collectively as the Congress Commons.

Terms of the deal have not been disclosed, but tax records show that the buildings have been appraised at $17.5 million.

The buildings reside in one of the most expensive areas of downtown Austin, according to Austin Business Journal. 

Clarion Partners has approximately $63 billion in total assets and also owns the property located at 901 E. 6th St. in Austin. The company also manages properties in Nashville, Tenn., West Deptford, N.J., and Braintree, Mass.

Originally constructed in the 1880s, the 50,244-square-foot Congress Commons is a mixed-use space offering office and retail space, according to Connect Texas. The current tenants leasing the space are Accenture, One Medical, Sushi Junai, Swift’s Attic and the Elephant Room.

Cielo describes Congress Commons as a stone's throw from the Colorado River and the heart of vibrant Austin. It is surrounded by many choices of restaurants and hospitality amenities.