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Owner’s Group Taps Goldman Sachs for Austin Apartment Refi
An ownership group made up of various private and public entities obtained $55.5 million to refinance an Austin affordable housing project. Goldman Sachs Alternatives secured the financing on Urban East, a 381-unit apartment community at 6400 East Riverside Drive in East Austin.
The Housing Authority of the City of Austin, Battery Global Advisors, River City Capital Partners and LDG Development secured a floating-rate loan for the property. A JLL Capital Market’s Debt Advisory team led by Kyle Spencer and Dan Kearns, facilitated the loan.
Urban East, completed in 2023, has units that average 820 square feet, with 191 units priced at levels deemed affordable for tenants earning 80% of the area’s median income.
Amenities include a game room with a bowling alley, two swimming pools, a fitness center, a rooftop lounge and a dog park.
- ◦Financing
