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Stonelake Lands $135M Refi on Domain Tower
Stonelake Capital has closed on a $135 million refinancing for Domain Tower 2, a 332,000 square foot office tower that rises 24 stories in Austin’s Domain district. The loan was issued by Barings.
Commercial Search reports JP Morgan held the previous, 2023-originated debt. That note retired a 2019 construction loan issued by a three-bank consortium including JP Morgan, Citizens Bank and Frost Bank.
Domain Tower 2 was delivered in 2022. Over the last four years, PayPal has steadily increased it footprint to over 150,000 square feet, almost half ot he building. Other tenants include fintech company Wise, which leased 60,682 square feet, as well as Samsung and ShiftKey.
In 2012, Stonelake acquired 33 acres within Domain as it planned its South End project.
Stonelake has completed five of the planned stages at Domain. These include two multifamily properties dubbed Flatiron and The Bowen, as well as three office buildings: Domain Tower, Domain Place and Domain Tower 2, which is the tallest building within the master plan.
