The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
November 14, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





MULTIFAMILY NEWS
Printer-friendly Version   Email an Associate
Pearlstone Partners to Develop 296-Unit Multifamily Project in Austin’s East Riverside Neighborhood

4/21/22

Pearlstone Partners has acquired a residential site in the East Riverside neighborhood of Austin, TX for the development of a 296-unit condominium project. The land purchase is being funded with a $7.14 mil loan provided by Knighthead Funding LLC.

The 2.73-acre property is situated within four miles of downtown Austin with nearby Interstate 35 offering easy access to the capital city’s employment centers, and the many surrounding restaurants, retail offerings, and cultural attractions.

Construction of the condominium project, which will also include street level retail, is expected to begin within the next eight months. Like Pearlstone’s previous projects financed by Knighthead, this development will target the middle-market buyer.

The 10-month, interest-only first mortgage financing was secured by 2500 Willow Dr, a 104.6k sf property southeast of downtown Austin. This is Pearlstone’s seventh transaction in the Austin area financed by Knighthead.

The fastest growing city in the country since the last U.S. Census, Austin has expanded by roughly 29% since 2010. The population boom, including a young, highly educated workforce, has attracted employers that have delivered high-paying jobs, fueling a growing need for quality housing in the market.






Return to the Archive page
 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media