Financing Sets River South Construction in Motion
Construction financing has been secured for River South, a 350,000-square-foot office building, which consists of a $122.94 million floating rate with a term of five years with one 12-month extension option.
AUSTIN, TX—New York Life Real Estate Investors, on behalf of New York Life Insurance Company, arranged the construction financing of River South, a 350,000-square-foot office building. The $122.94 million floating rate loan has a term of five years with one 12-month extension option.
“We are pleased to establish lending relationships with Stream Realty Partners and QuadReal Property Group through the financing of this excellent asset,” said Leslie Cassingham, senior director of New York Life Real Estate Investors’ Southeast regional office. “River South’s in-fill location and state-of-the-art amenities, as well as its large floorplates, attractive ceiling heights and ample parking, will make it an irreplaceable property.”