Pearlstone Inks $154.5M Loan for Austin Condo Construction

Pearlstone Partners broke ground on The Belvedere, a condominium development in west downtown Austin while securing a $154.5 million loan from Benefits Street Partners. Slated for completion in August 2027, The Belvedere will offer 158 residences, designed by KTGY. Units are set to range from $800,000 to $3 million.

Pearlstone Partners secured a $154.5 million construction loan from Benefit Street Partners. As part of the project, Pearlstone is investing $1.5 million into a park on The Belvedere lawn, including upgraded sidewalks, new bikeways and improved public access.

The Belvedere’s residences—ranging from one- to three-bedroom condominiums—will offer amenities, including a pool, on-site restaurant, coworking spaces, 24-hour concierge services, fitness studios, pet lounge and grooming station, theater room, residential lounge, and direct access to the Hike-and-Bike Trail.

Pearlstone says it’s a full-service real estate development firm. The company has been responsible for $700 million-plus in locally developed real estate and has $900 million-plus actively invested in its growing portfolio and pipeline.