NorthMarq Arranges $64.5M Refinancing of SXSW Center Office Building in Downtown Austin
AUSTIN, TEXAS — NorthMarq has arranged a $64.5 million loan for the refinancing of SXSW Center, a 13-story office building located at 1400 Lavaca St. in downtown Austin. Designed by Pei Cobb Freed, the Class A property spans 143,998 square feet and features a fitness center, bike storage and electric car charging stations. WeWork occupies three stories at the building. Jim Lemos of NorthMarq arranged the loan, which carries a fixed interest rate and a 26-year term, through Pacific Life Insurance Co. The borrower was not disclosed.