JLL Capital Markets announced that it secured construction financing for The Travis, a 423-unit, high-rise multihousing community located in the Rainey Street District of downtown Austin, Texas.
JLL worked on behalf of the borrower, Genesis Real Estate Group and PGIM Real Estate, to secure a construction loan through JPMorgan Chase.
With a projected completion of the fall 2024, the 50-story tower will be Austin’s tallest single-purpose, for-rent multi-housing high-rise, redefining Austin’s skyline and providing future residents top-tier accommodations and one-of-a-kind, unobstructed views of downtown and Lady Bird Lake. The development will exhibit luxury in every design choice and provide market leading interior finishes and amenity packages. In addition to luxury residences characterized by technology-enabled living spaces, thoughtfully designed modern interiors and over one acre of interactive community amenities, the property will offer a distinct connectivity to the over 14,000 acres of public parks and hike/bike trails found within the city.
Located at 80 Red River St. within downtown Austin, the property offers convenient accessibility to the growing 17.3 million square feet of office space in the Central Business District, which includes the Convention Center District. Residents are also proximate to Rainey Street, Austin’s premier historic avenue turned cultural and nightlife attraction. Additionally, the property provides walkability to over 40 restaurants and bars and numerous shops.
The JLL Capital Markets Team representing the borrower was led by Senior Managing Director Campbell Roche and Senior Managing Director Robert Wooten.
According to JLL, “We are excited to see this unique project become a reality. Genesis and PGIM Real Estate deliver thoughtful, top-quality projects on great sites. The Travis will be another successful one-of-a-kind project capitalizing on the irreplaceable views of Austin.”
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.