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Genesis delivers 54-story Austin tower with $173.4 million JPMorgan loan

KTGY designed the Rainey Street apartment tower.

$173.4MJPMorgan construction loan for The Travis

At a glance

  1. The tower has more than 400 units above an eight-story podium with residences, parking, amenities and a retail corner.
  2. Amenities include an elevated deck with a pool and wellness studio, a coffee shop with outdoor seating, a large bike room, a river-facing artist loft and a podcast and sound recording studio.
  3. Terms of the construction loan, including its loan-to-cost ratio, were not disclosed.

Genesis Real Estate Group has delivered The Travis, a 54-story residential tower on Rainey Street in downtown Austin, built with $173.4 million in construction financing from JPMorgan Chase, Connect CRE reported on Nov. 10.

The tower has more than 400 units above an eight-story podium with residences, parking, amenities and a retail corner. KTGY designed the building.

Amenities include an elevated deck with a pool and wellness studio, a coffee shop with outdoor seating, a large bike room, a river-facing artist loft and a podcast and sound recording studio.

Terms of the construction loan, including its loan-to-cost ratio, were not disclosed.

For allocators, the loan is attached to a delivered building, not a permitted one, so the open underwriting question is lease-up: how quickly the tower fills.

Reported by the Deals desk from Connect CRE. Published . Corrections

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