Posted Feb 24, 2023, 4:36 PM
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Moderator
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Join Date: Jan 2009
Location: Austin, TX / Portland,OR / Chicago, IL
Posts: 14,464
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Quote:
Originally Posted by Urbannizer
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https://www.multihousingnews.com/pearlstone-secures-75m-for-austin-condo-project/
Quote:
Pearlstone Partners has obtained $75 million in construction financing for an upcoming 182-unit condominium development in the South Lamar area of Austin, Texas.
Knighthead Funding supplied the loan, marking the firm’s fifth transaction on behalf of Pearlstone since 2020, according to prepared remarks by Knighthead Vice President Henry Boeckmann.
Set to take shape on an 80,900-square-foot parcel at 2323 S. Lamar Blvd., 3 miles from Austin’s central business district, the five-story building will incorporate studios, one- and two-bedroom units, as well as four live work units. Additionally, the project will feature more than 6,000 square feet of street-level retail and office space. Completion is slated for the second half of 2024.
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