The transaction involves Urban East, a newly constructed 381-unit Class-A multifamily community located at 6400 East Riverside Drive in Austin, which highlights strong investor confidence in the multifamily market of the city. The property has been refinanced for $55 million through Goldman Sachs, utilizing a floating rate loan structure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $55,000,000
• Units: 381
• Lender: Goldman Sachs
• Landlord: Battery Global Advisors, Housing Authority of Austin, River City Capital Partners, LDG Development
• Broker: Dan Kearns & Kyle Spencer - JLL
• Loan Type: Refinance
• Loan Terms: floating rate

The deal was facilitated by a joint venture consisting of Battery Global Advisors, Housing Authority of Austin, River City Capital Partners, and LDG Development, representing strong collaborative efforts in securing financing for the project. The property showcases a variety of amenities and unit types, indicating an appealing investment opportunity within the competitive Austin market.