Thomas Properties to buy 10 buildings in Texas

Blackstone Group, the leveraged buyout firm that purchased Equity Office Properties Trust, agreed to sell 10 buildings in Austin, Texas, to Thomas Properties Group Inc. for $1.15 billion.

The transaction includes five downtown office buildings totaling 2.5 million square feet and five properties in northwest Austin with almost 1 million square feet, Los Angeles-based Thomas Properties said. The purchase price works out to $330 a square foot.