CAPMARK ARRANGES $39 MILLION FOR OFFICE PROJECT
AUSTIN, TEXAS — Capmark Finance has arranged $39 million in construction financing for The Offices at East Avenue, a 215,000-square-foot office project located in Austin. The project is the first phase of the 2.8 million-square-foot, mixed-use redevelopment of the former Concordia University campus. Current plans for the site call for office, retail, multifamily and hotel space in a pedestrian-friendly environment. Scott Bryant of Capmarks’ Austin office originated the loan on behalf of East Avenue Office Holdings LP. The lenders were U.S. Bank and Texas Capital.