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World Class Property Company Refis Two Marquee Assets
World Class Property Company recently refinanced two of its marquee Austin properties. With the recent deals, World Class has now completed three major refinances this month.
South Congress Square
A $42 million loan refinanced South Congress Square, a mixed-use property in Austin’s South Central Waterfront District at 500 and 510 South Congress Ave. and 105 West Riverside Dr. In addition to refinancing the previous loan, the new loan provides capital to reposition the existing buildings and redevelop the property.
Eastside Mercantile
The refinancing and closing of construction financing was arranged for Eastside Mercantile, a mixed-use property located at 1200 East 5th St. in East Austin’s Plaza Saltillo neighborhood. The single-story building offers approximately 36,100 square feet of street-level space designed to maximize the benefits of the transit-oriented development in the Saltillo area. Eastside Mercantile is an adaptive reuse of a former data center building to a mixed-use project for creative-use tenants including both office and retail users.
- ◦Financing
