Leifer Properties is co-developer on the South Congress Avenue project, with Northland Properties and Aron Industries as partners.
Intracorp has begun construction on a condominium project along South Congress Avenue in Austin after securing a $173 million construction loan from BGO, Connect CRE reported.
Leifer Properties is a co-developer on the South Congress Avenue project, and Northland Properties and Aron Industries are project partners.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections
The 132,055-square-foot building, completed in 2023, was sold by Bluewater Property Group and Affinius Capital.
Realterm paid $26 million for the Quirch Foods-leased building in 2020; the price in the current trade was not disclosed.
JLL advised the seller and arranged acquisition financing; the purchase price was not disclosed.
Bridge Investment Group and Pacific Development borrowed the bridge loan, which funded an interest reserve and returned equity.
Bridge, Declaration Partners and Avery Hall are the sponsors; coupon and spread were not disclosed.
Non-traded REITs, data centers, industrial and manager fundraising. Weekdays at 7:20 a.m. ET.
Free. Weekday mornings. Unsubscribe from any edition in one click.