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


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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