JLL Capital Markets secured a $55 million loan for Urban East, a newly constructed, 381-unit, Class-A multifamily community in Austin, Texas.
JLL worked on behalf of the ownership team which includes Battery Global Advisors, Housing Authority of the City of Austin, River City Capital Partners and LDG Development to facilitate the floating-rate loan through Goldman Sachs Alternatives.
Located at 6400 E Riverside Dr., Urban East offers convenient access to Downtown Austin, the University of Texas and the Austin-Bergstrom International Airport. Residents of the complex can enjoy nearby retail and entertainment options as well as close proximity to large employment centers.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Kyle Spencer and Senior Director Dan Kearns.
Urban East is a newly constructed apartment community that offers modern, open-concept floor plans in a mix of studios, one-, two- and three-bedroom units. Each unit features a large walk-in closet, stainless steel appliances, hardwood-like vinyl floors and a balcony. Residents can enjoy community amenities such as a high-tech fitness center, a game room, a bowling alley, two resort-style pools, a rooftop lounge and electric charging stations.
