Jones Lang LaSalle Inc.
10/17/2024 | Press release | Distributed by Public on 10/17/2024 11:41
Construction financing secured for 894K SF industrial development in Austin MSA
DALLAS, Oct. 17, 2024 - JLL Capital Markets announced today it secured the construction financing for Waterstone, a to-be-built, Class-A industrial development located in San Marcos, Texas.
JLL represented a joint venture between Goldman Sachs and Lincoln Property Company to secure a floating-rate loan with Affinius Capital.
The project benefits from direct access to I-35 and proximity to the Austin MSA and San Antonio MSA, highlighting the Development's accessibility and connectivity to major population centers among growing Texas markets. The development will span 894,000 square feet and will feature 32- to 36-foot clear heights, 185- to 200-foot truck court depths, 192 total dock doors and a mix of rear-load and cross-dock configurations.
Waterstone is planned to break ground in November 2024 with an expected delivery date of February 2026.
The JLL Debt Advisory team was led by Senior Managing Director Campbell Roche, Managing Director Kyle Spencer, Senior Director Will Mogk, Director Kristi Leonard, Associate Ryan Pollack and Analyst Campbell Swango. Senior Vice President Kyle McCulloch will lead the leasing efforts for the development.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Lincoln Property Company
Lincoln Property Company ("Lincoln") is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 510 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 150 million square feet of development since its inception in 1965 and has another $20 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a more than 40-year track record and $32 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.