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$106M Construction Financing in Place for Condo Project

Sackman Enterprises Inc. and Starryland USA Corp. succeeded in securing construction financing totaling $106 million to develop 70 Rainey, a 34-story, 173-unit condominium project in Austin, TX’s Rainey Street District. HFF arranged the financing; Robert Wooten, Doug Opalka and Scott Wadler led the team representing the borrower.

70 Rainey is scheduled for a 2018 completion, and will offer units that average 1,393 square feet, along with 10 to 13-foot ceiling heights, European Oak hardwood flooring and patios/balconies. Outdoor amenities include vertical gardens, a swimming pool and water lounge, dog park, outdoor grilling stations and gaming areas. The amenity space is 100 feet above ground level, meaning unobstructed views of downtown Austin and the Texas Hill Country.

For comments, questions or concerns, please contact Amy Sorter

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