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| Rendering of planned Red Bluff Development, Austin, TX |
DALLAS, TX – JLL Capital
Markets announced it has arranged $26.65 million in construction
financing for the Red Bluff Development, a Class A, 91,635-square-foot office
and retail development in a Qualified Opportunity Zone in Austin, Texas.
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| De'On Collins |
JLL worked on behalf
of the developer, HN Capital Partners, to place
the loan with Bank OZK.
HN Capital Partners is developing the
project in partnership with Austin-based Red Bluff Partners, which acquired the
land in 2014.
The building will be the first phase of a mixed-use project and
consists of a five-story, Class A office building and ground-floor retail space
along with a 269-stall parking structure.
Designed
by Studio Rick Joy, the building will feature open floor plans with ample
natural light. The developer plans to construct a boutique hotel as part of the
second phase.
The building will be situated on 1.09 acres at
4713 E. Cesar Chavez St. in the East Austin District, a live-work-play area in
Austin that embodies the quintessential Austin lifestyle.
This premier location provides access to the
city’s trendy amenity base, which includes more than 2.2 million square feet of
retail and more than 6,500 multi-housing units.
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| Chris McColpin |
The
JLL Capital Markets Debt Placement team representing the equity
placement or a recapitalization.
The firm has more than 3,700 Capital Markets
specialists worldwide with offices in nearly 50 countries.
The borrower was led by Senior Directors De'On Collins
and Chris McColpin, Associate Jayme Nelson and Analyst Alastair
Barnes.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The firm's in-depth local market and global
investor knowledge delivers the best-in-class solutions for clients — whether
investment advisory, debt placement,
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
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| Jayme Nelson |
JLL is a Fortune 500 company
with annual revenue of $18.0 billion, operations in over 80 countries and a
global workforce of more than 94,000 as of March 31, 2020. JLL is the brand
name, and a registered trademark, of Jones Lang LaSalle Incorporated.
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| Ray Lee Hunt |
HN Capital Partners is an opportunistic investment manager founded
and operated by Vipin Nambiar, with the backing of Hunt Investment Group (a
company led by Ray L. Hunt and his family).
HN Capital runs multiple strategies
on behalf of its investors and takes a long-term and opportunistic approach to
compounding capital.
Cross capital-structure real estate investments are one of the key investing areas for HN Capital, and it was the co-developer of marquee projects like the Virgin Hotel Dallas.
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| Alastair Barnes |
Cross capital-structure real estate investments are one of the key investing areas for HN Capital, and it was the co-developer of marquee projects like the Virgin Hotel Dallas.
About Red Bluff Partners
Red Bluff Partners is led by a group of experienced sponsors
including John Scott and Bernt Kuhlmann, who have brought in a stellar team of
industry experts in order to design and execute their vision of a cornerstone
property in an evolving and blossoming east Austin community.
CONTACT:
Kimberly Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420
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