Blackstone Mortgage Trust Provides $675M Construction Loan For Waterline In Austin
98 Red River Street
Summary
Waterline, a mixed-use development located at 98 Red River Street in Austin, has secured a construction loan worth $675,000,000. The loan has been provided by Blackstone Mortgage Trust, with Katie Keenan representing the lender. This project, set to be completed in 2026, will encompass a total area of 3.3 acres and stand 74 stories tall. It will feature 352 luxury residences, 700,000 square feet of office space, and a 251-room 1 Hotel Austin.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $675,000,000
- Address: 98 Red River Street, Austin
- Market: Austin
- Acres: 3.3
- Lender: Blackstone Mortgage Trust - Katie Keenan
- Landlord: Lincoln Property Company - Seth Johnston, Kairoi Residential - Michael Lynd Jr.
- Brokers: Eastdil Secured
The project's development team includes Lincoln Property Company, represented by Seth Johnston, and Kairoi Residential, represented by Michael Lynd Jr. The construction loan from Blackstone Mortgage Trust will enable the development of this expansive mixed-use property in Austin. When completed, Waterline will not only offer luxury residential options but also provide a substantial amount of office space and a premium 1 Hotel Austin with 251 rooms.
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