HOUSTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24HF&src=ctag” target=”_blank”gt;$HFlt;/agt; lt;a href=”https://twitter.com/hashtag/Austinofficedevelopment?src=hash” target=”_blank”gt;#Austinofficedevelopmentlt;/agt;–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.
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 1st Street, W.
Riverside and Barton Springs Road just across Lady Bird Lake from
Downtown Austin. 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 at http://www.newyorklife.com/realestateinvestors
for more information.
New York Life Real Estate Investors is a full service, fully-integrated
real estate enterprise with more than 100 professionals. The division
has market-leading capabilities in origination, underwriting, and
investment in real estate equity products and related debt, including
real estate equity investments, commercial mortgage loans, commercial
mortgage backed securities, and unsecured REIT bonds. 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.
About Stream Realty Partners
Stream is a commercial real estate firm with locations across the
country. The company’s full-service offerings cover the broad spectrum
of leasing, management, development, construction and investment sales
services. In addition, Stream specializes in sourcing investment
opportunities for the firm and its clients. Since its formation in 1996,
Stream has executed $3.4 billion of acquisitions and developments
totaling 29 million square feet of office, industrial, data center and
retail properties. Stream currently leases and/or manages over 170
million square feet across the nation, including 17 million square feet
of owned properties. Visit streamrealty.com.
HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
or follow HFF on Twitter @HFF.
HFF Senior Managing Director
HFF Managing Director
HFF Director, Public Relations