TRC Crafts Innovative Solutions
At Texas Realty Capital, we strive to stay at the front of emerging trends in providing capital solutions that our clients need. This summer we closed two transactions that are notable and unique, showing that TRC’s wide range of exclusive national capital sources provides our clients access to the most innovative deal structures required to capitalize on the rapidly changing Austin commercial real estate industry.
Gables Park Plaza and Park Tower
In July, working with our exclusive correspondent relationship with Sun Life of Canada, TRC structured a long term fixed rate loan on the ground floor, commercial condo unit of the Gables Park Plaza and Gables Park Tower located at Lamar Blvd. and Cesar Chavez St. Local developers, Peter & Joseph Lamy, recently acquired the commercial portion of these Class A multi-family towers and were in the process of repositioning the tenancy from retail to office. The Lamys needed a funding solution that would provide flexibility for finishing the space and phasing the move-in of a new national tenant. TRC and Sun Life provided the right combination of loan proceeds and timing flexibility to help our client take advantage of the low interest rate environment and lock in a long term solution that maximizes returns for this unique, class A asset with a one-of-a-kind location.
We closed a similarly innovative transaction with our exclusive correspondent relationship with Thrivent Financial in August. Working with the property developer, Endeavor Real Estate Group, TRC arranged a long term financing solution for the two floors of commercial office space at The Bowie located at 311 Bowie Street. Floors 8 & 9 of this Class A+ luxury, high-rise development are leased to a large national tenant for office use. In addition to the security being a condominium unit, the lease had some unique characteristics related to parking and lease term that required finding a lender that was willing to get creative and provide a structure that would allow the owner to achieve their goals for loan proceeds with a very compelling long term interest rate.
In addition to these two CBD transactions, TRC has previously closed loans for the commercial condominium portion of The Austonian and Guadalupe 31. All of us at Texas Realty Capital are proud to be associated with these best-in-class developments and want to thank both the owners and the lenders for their confidence in TRC to be their source in Austin for dynamic financing solutions that keep pace with our innovative market.
Please call Texas Realty Capital (512-450-6800) to discuss your financing needs on any commercial real estate project. We will be happy to size up refinancing your project or a pending acquisition and provide you with an array of best in class financing options. Learn more at www.trcaustin.com.