JLL secures $26.65M financing to develop Austin mixed-use property

DALLAS, June 11, 2020 – JLL Capital Markets announced today that it has arranged $26.65 million in construction financing for the Red Bluff Development, a Class A, 91,635-square-foot office and retail development in a Qualified Opportunity Zone in Austin, Texas.

JLL worked on behalf of the developer, HN Capital Partners, to place the loan with Bank OZK. HN Capital is developing the project in partnership with Austin-based Red Bluff Partners, which acquired the land in 2014. 

The building will be the first phase of a mixed-use project and consists of a five-story, Class A office building and ground-floor retail space along with a 269-stall parking structure. Designed by Studio Rick Joy, the building will feature open floor plans with ample natural light. The developer plans to construct a boutique hotel as part of the second phase. The building will be situated on 1.09 acres at 4713 E. Cesar Chavez St. in the East Austin District, a live-work-play area in Austin that embodies the quintessential Austin lifestyle. This premier location provides access to the city’s trendy amenity base, which includes more than 2.2 million square feet of retail and more than 6,500 multi-housing units.

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Directors De'On Collins and Chris McColpin, Associate Jayme Nelson and Analyst Alastair Barnes.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

HN Capital Partners is an opportunistic investment manager founded and operated by Vipin Nambiar, with the backing of Hunt Investment Group (a company led by Ray L. Hunt and his family). HN Capital runs multiple strategies on behalf of its investors and takes a long-term and opportunistic approach to compounding capital. Cross capital-structure real estate investments are one of the key investing areas for HN Capital, and it was the co-developer of marquee projects like the Virgin Hotel Dallas. 

Red Bluff Partners is led by a group of experienced sponsors including John Scott and Bernt Kuhlmann, who have brought in a stellar team of industry experts in order to design and execute their vision of a cornerstone property in an evolving and blossoming east Austin community.