Quote:
Originally Posted by WestAustinite
Are you sure about that amount? Seems very high considering there are only 117 units. $279MM + developer profit means every unit would be $3+MM
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That sum is for two projects they are planning in the metro.
https://www.bizjournals.com/austin/n...financing.html
Michelle Pitcher – Staff Writer, Austin Business Journal
..."Reger Holdings LLC, a New York-based real estate developer, has secured $278.5 million in construction financing from Madison Realty Capital LP for projects in Austin.
The financing is for The Linden, a condominium high-rise planned at 313 W. 17th St., and various elements within EastVillage, an ambitious mixed-use development planned for East Parmer Lane.
Madison Realty’s loan makes up the debt investment, while Reger Holdings provided the equity for both major developments."
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