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Work Gets Started on 300k sf Office Tower in Austin, TX

12/28/16

Stonelake Capital Partners and HPI Real Estate Services & Investments have just broken ground on Domain Tower, an 11-story, 310k sf Class A office building in Austin, TX. The project is located at 10721 Domain Dr, at the entrance to The Domain.

Domain Tower will accommodate companies with requirements ranging from 30k sf on up to the entire 310k sf of contiguous space, featuring floor-to-ceiling glass and a state-of-the-art design by BOKA Powell. Domain Tower will provide expansive views and ample natural light; two outdoor terraces to accommodate company events; a tenant lounge and conference areas which open onto a landscaped exterior terrace allowing tenants to work outdoors; a fitness center; a designated food truck area; a structured parking garage with skywalk access; shuttle service throughout The Domain; and on-site concierge.

Stonelake contributed the land for Domain Tower into a joint-venture with HPI and are co-developing Domain Tower together. Stonelake announced earlier this year the closing of Stonelake Opportunity Partners IV, L.P., Stonelake’s fourth real estate private equity fund with $262 mil in capital commitments.

J.P. Morgan is the construction lender for Domain Tower, which is scheduled for completion in early 2018. Sam Houston, Richard Paddock and J.D. Lewis of HPI Real Estate Services & Investments are responsible for leasing Domain Tower.

Stonelake acquired 31 acres at the entrance to The Domain in 2011. Domain Tower is the first phase of Stonelake’s development plans within The Domain. In total, Stonelake plans to add 3.5 msf of new office, multifamily and retail over the next decade with plans for a hotel, grocer, park and restaurants. Stonelake’s next phase will be Flatiron | Domain, a five-story, 372-unit Class A multifamily property, which will break ground in 2017.







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