A newly built multifamily community in Austin, called Urban East, has received a $55 million refinancing from Goldman Sachs. The joint venture behind the project includes Battery Global Advisors, Housing Authority of Austin, River City Capital Partners and LDG Development. JLL’s Kyle Spencer and Dan Kearns were responsible for securing the floating rate loan.
Urban East offers 381 Class-A units ranging from studios to three-bedroom apartments with balconies. Amenities include a fitness center, game room, bowling alley, two pools and electric charging stations. Located at 6400 E Riverside Dr., residents have easy access to Downtown Austin as well as the University of Texas and Austin-Bergstrom International Airport.
This transaction not only demonstrates investor confidence in Austin’s multifamily market but also showcases its resilience despite an influx of new units.
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