David Elgart Of Benefit Street Partners Provides $154.5 Million Loan For Austin Condo Development

The transaction involves a construction loan for a to-be-built condominium development in the Austin market. The asset is a condo development totaling 299,608 square feet and will comprise 158 units in a Class A classification.

Summary of transaction details:

• Property Type: Condo Development
• Transaction Amount: $154,500,000
• Lender: David Elgart - Benefit Street Partners
• Broker: Benjamin Nevid - Meridian Capital Group
• Loan Type: Construction
• Loan Structure: Three-year, floating-rate, 73% LTC, non-recourse loan

David Elgart represents Benefit Street Partners as the lender for the project, while Benjamin Nevid serves as the broker representing Meridian Capital Group. Meridian Capital Group is recognized for providing tailored financial solutions in dynamic markets, successfully orchestrating this complex deal with competitive terms.