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HFF Secures $19.9M Loan for Office Conversion Project in Austin

UpCycle-Austin-Texas

UpCycle will add approximately 81,000 square feet of creative office space to East Austin's supply by converting old warehouse space into office properties.

AUSTIN, TEXAS — HFF has secured approximately $19.9 million in financing for a project to convert 81,711 square feet of warehouse space in Austin into a creative office property. Branded UpCycle, the new office property will be located on Sixth Street in East Austin and will feature conference space, bike storage and a coffee bar. Robert Wooten and Eric Tupler of HFF placed the loan on behalf of the borrower, a joint venture between EverWest Real Estate Investors and WHI Real Estate Partners. An entity affiliated with Marathon Asset Management LP originated the loan, which features a three-year term and a floating interest rate. Proceeds from the loan will be used to complete the conversion by May.

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