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| River South Office Property Rendering, South Austin, TX |
HOUSTON, TX –– HFF announced that it has arranged a $122.94
million construction loan for the development of River South, an iconic
office development totaling 360,860 square feet in South Austin, Texas.
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| Colby Mueck |
HFF worked on behalf of the borrower, Stream Realty Partners, to secure
the construction loan through New York Life Real Estate Investors on behalf of
New York Life Insurance Company.
Due for completion in 2021, River South will comprise 347,778 square
feet of office and 13,082 square feet of ground floor retail within a 15-story
glass structure.
The state-of-the-art
property will feature 37,000-square-foot average floorplates allowing increased
flexibility for high density users, five levels of subterranean parking and a
fitness studio.
River South has a
premier location at 401 South 1st Street, which is at the
confluence of South 1stStreet, W. Riverside and Barton Springs Road
just across Lady Bird Lake from Downtown Austin.
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| Robert Wooten |
This allows the
property to benefit from Austin’s live, work, play lifestyle with immediate
access to the world-renowned South Congress corridor, the Downtown employment
hub and the iconic Austin neighborhoods of Zilker, Bouldin Creek and Travis
Heights.
The HFF debt placement team representing the borrower included senior
managing director Colby Mueck, managing director Robert Wooten,
senior director Chris McColpin and analyst Jayme Nelson.
About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of NYL Investors LLC,
a wholly-owned subsidiary of New York Life Insurance Company. Please visit New
York Life Real Estate Investors’ website athttp://www.newyorklife.com/realestateinvestors for more information.
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| Chris McColpin |
With over $54.5 billion in assets under management as of December 31, 2018*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
*Real Estate Investors AUM of
$54.5B is gross and includes AUA ($1.6B), and debt ($0.6B) as of 12/31/18. Net
AUM for Real Estate Investors is $53.9B as of 12/31/18.
CONTACTS:
COLBY MUECK
HFF Senior Managing Director
(713) 852-3500
ROBERT
WOOTEN
HFF
Managing Director
(512)
532-1900
KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
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