$80M Construction Loan Closed for Loren at Lady Bird Lake

Hall Structured Finance closed a first-lien construction loan totaling $80 million to finance development of The Loren at Lady Bird Lake in Austin. The 108-room boutique hotel, which will include an adjacent 26-unit condo tower, is scheduled to open in Q1 2022. Michael Landon with CBRE sourced financing for the project, which is being developed by C12 Capital Management LP/Sardis Developments.

“Austin is booming, both in terms of population growth and business and leisure travel, and this new development will be able to successfully serve both sectors with its combination of a boutique hotel and luxury residences,” said Mike Jaynes with Hall Structured Finance.

Loren Hotel Group is the owner of the hotel, which will be its first U.S. holding. The eight-story property is at 211 S. Lamar.

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