TEXAS REALTY CAPITAL SECURES $35.7 MILLION CONSTRUCTION LOAN
AUSTIN, TEXAS — Austin-based Texas Realty Capital (TRC) has secured $35.7 million in joint venture and construction financing for Capstar at Compass Plaza, an eight-story office building that will be located within Austin’s central business district. The project will contain 116,000 square feet of Class A space, and is already more than 90 percent pre-leased to Capstar Partners, Harden Healthcare, DMX Music and Compass Bank. Construction is expected to take 14 months to complete. Jim Lemos of TRC arranged the financing through Thrivent Financial of Minneapolis. Capital City Partners and Sage Land Co. are developing the project. Terms of the loan were not disclosed.