Brendan Whalen Of Park Property Capital And Joseph Keough Of Wood Partners Secure $38.7M Loan In Austin

The Albright is a 261-unit multifamily property located at 8527 Burnet Road in Austin, Texas. The property was recently completed last year and has secured a floating-rate loan with a total value of $38,700,000.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $38,700,000
• Lender: ACRES Commercial Realty
• Landlord: Brendan Whalen - Park Property Capital
• Landlord: Joseph Keough - Wood Partners
• Loan Terms: Two-year financing, pegged at SOFR + 260 bps

The financing for the property was arranged by JLL. This loan contributes to the overall investment strategy pursued by Park Property Capital and Wood Partners in the multifamily sector of the Austin market.