Once the legal issues with purchasing the site are over, the new owners have deep enough pockets to get this done. Per the Austin Business Journal:
Quote:
The $95 million deal was reached in April with a shell company called Third and Congress Owner LLC — a special purpose fund managed by Wildcat Capital Management, a New York-based real estate investment firm with a multibillion-dollar portfolio.
Sources told Austin Business Journal that Wildcat is partnering on the deal with developer DHA Capital, formerly of New York and now based in Austin. DHA Capital Managing Partner Daniel Hollander is the development partner on the deal, while Wildcat is the financial partner.
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