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Texas  + Austin  + Apartments  | 

Reger Holdings Nabs $279M Loan to Build Multifamily

Madison Realty Capital recently provided a $278.5 million construction loan for a portfolio of four assets located in Austin to Reger Holdings LLC. The portfolio is comprised of two mixed-use multifamily properties and 317 acres of entitled land.

Plans include developing 1,264 multifamily residential units known as the EastVillage and a downtown condominium, The Linden Residences. Reger Holdings contributed significant cash equity for the construction.

The EastVillage location along the Parmer Lane tech corridor is adjacent to Samsung’s semiconductor chipmaking plant in northeast Austin. Parmer Lane is home to some of the most prominent Austin employers including Tesla, Apple, Samsung, Oracle, Dell, Facebook and 3M.

“Austin is a rapidly growing, vibrant city experiencing exceptional economic growth but faces high barriers to entry,” says Josh Zegen, managing principal and co-founder of Madison Realty Capital. “The city is facing an undersupply of the high-quality housing options that employees in the Parmer Lane tech corridor demand.”

The mixed-use residences are comprised of two development sites across 29 acres within the 400-acre EastVillage master site. The first EastVillage development will offer 312 units and the second EastVillage development will include 422 units. Future EastVillage phases involve 317 acres approved for 1,264 units, 240 hotel keys and more than 1 million square feet of commercial space.

Located at 313 West 17th St. near the State Capital and the University of Texas at Austin, The Linden Residences is a 28-story condominium project with 117 units and 5,196 square feet of retail.

Newmark’s David Douvadjian, Brian Butler and David Douvadjian Jr. served as advisers to Madison Realty Capital in the transaction.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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