Franklin BSP Provides $80M Loan for Refinancing of Downtown Austin Apartments

AUSTIN, TEXAS — Franklin BSP Realty Trust Inc. (NYSE: FBRT) has provided an $80 million loan for the refinancing of Alexan Waterloo, a 272-unit apartment complex in downtown Austin. Completed in 2021, the 30-story building houses studio, one-, two- and three-bedroom units. Amenities include a pool with cabanas and grilling stations; fitness center with yoga and spin studios; sports lounge with a golf simulator; coworking space with private meeting rooms; and multiple clubrooms with lounge seating and a catering kitchen. The borrower is Crow Holdings Capital. The loan was structured with a two-year initial term and three one-year extension options.