Houston firm pays MAVDevelopment $53.2M for Rally Software HQ

BOULDER — A real estate investment firm from Houston has bought Rally Software Development Corp.’s headquarters at 3333 Walnut St. in Boulder for $53.2 million.

Lionstone Investments bought the property from Ann Arbor, Mich.-based MAVDevelopment, which has a sizable portfolio in Colorado that includes land and buildings in the Harmony Technology Park in Fort Collins.

Rally (NYSE: RALY), which is in the process of being acquired by CA Technologies (Nasdaq: CA), is expected to maintain its presence in Boulder after the merger is finalized. A Rally spokeswoman said…