Funding granted for Texas condominium project

WCN Editorial Team 11 Jan 2017 NORTH AMERICA BUILDINGS

Holliday Fenoglio Fowler (HFF) has arranged $106M in financing for the development of a condominium project in downtown Austin, Texas.

HFF, on behalf of developer Sackman Enterprises and its partner Starryland USA, placed the construction loan with commercial real estate finance firm ACORE Capital.

The 34-storey development, known as 70 Rainey, will feature 173 for-sale homes averaging 129 sq m.

It will also feature an amenity deck comprising 929 sq m of indoor space and 1,860 sq m of outdoor space including vertical gardens, a swimming pool, a water lounge, cabanas, fire pit lounges, gaming areas and outdoor grilling stations.

The LEED Gold-registered project is expected to be concluded in 2018.

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