In a arrangement brokered by JLL, Goldman Sachs Alternatives will lend developers $55.5 million for the refinancing of Urban East, a 381-unit apartment community at 6400 East Riverside Drive in Austin.
JLL arranged the floating-rate debt on behalf of the owner, a partnership between Battery Global Advisors, the Housing Authority of the City of Austin, River City Capital Partners, and LDG Development. The direct lender was Goldman Sachs Alternatives.
The recently built property, which includes an affordable housing component, is southeast of downtown near the Austin-Bergstrom International Airport.
Urban East offers studio, one-, two-, and three-bedroom residences with stainless steel appliances, tile backsplashes, granite countertops, walk-in closets, individual washers and dryers, and private patios/balconies.
Amenities include two pools, a fitness center, private conference rooms, a rooftop lounge, a resident clubhouse and kitchen, a dog park, and a game room with a bowling alley.
