New Residential Condominiums in Austin’s Rainey Street District that Allow Owners to Live in or Rent Out Their Residences Via Any Rental Platform Announces Additional Units Available For Sale

AUSTIN, Texas—May 18, 2021. Austin-based Pearlstone Partners — a full-service real estate development firm with more than 100 years combined experience in the local real estate industry —today announced its development, Natiivo Austin, is now over 75 percent complete and over 85 percent sold. The new highrise condominium project is located at 48 East Avenue in the historic Rainey Street District at the edge of downtown Austin. Prospect Real Estate is the exclusive listing agent for the trendsetting new residential high-rise development. “This is an exciting time because construction of Natiivo Austin is over 75% complete,” said Bill Knaus, President of Pearlstone Partners, one of the developers of the innovative project. “The exterior of the building is beginning to undergo striking changes, as we begin installing the bronze and champagne metal panels with glass handrails that are so distinctive to our design. Equally as exciting, our team is working hard to complete the luxurious rooftop pool deck and preparing to install the imposing custom-rammed earthen panel that will frame the fireplace at the end of the pool, providing a dramatic focal point.” Due to the unprecedented market conditions, increasing demand for residential homes in the urban core and the extremely low single-family home inventory, the developer recently released the 14th floor, originally planned to encompass 11 hotel rooms, as additional residential units for sale. Already, four of the newly released units are under contract. Natiivo Austin has experienced a flurry of sales within the past 60 days, selling out all studio units, both penthouses, four-floor plans – A1, A5, A9, and B4 – and two full floors. Additionally, only 35 one- and four two-bedroom units remain available. “We are thrilled with the demand and interest in Natiivo Austin and are excited to be able to offer additional units to meet the needs of our buyer pool,” said Prospect Real Estate Vice President of Sales Denise Bodman. “We expect to have the first temporary certificates of occupancy (TCOs) in September, with the first move-ins likely in November.” Knaus said the building’s walls are dried in, allowing contractors to move forward with weather-sensitive interior materials and work. Sheetrocking has been completed through level 31 and is in progress on level 32. Elevators are in operation, and interior finishes are progressing from the ground upward, with the lower levels being prepped for final paint and appliance deliveries. Level 10 should be fully complete later this month and is nearing punch list status. Cabinets and countertops are being installed on level 15. Over the next 30-90 days, finishing work in individual residences will continue, the exterior metal siding will be completed, and work will be started on the project’s 33 amenity areas. Pearlstone Partners Touts Natiivo Austin is Over 75% Complete and 85% Sold Page 2 of 3 The first-of-its-kind concept in residential living, Natiivo Austin is a 33-story high-rise condominium tower that offers the benefits of ownership combined with the ease and service of a high-end hotel. Owners will enjoy 24-hour concierge service and valet parking, co-working spaces, a lobby coffee bar with the barista, a café lounge with grab-and-go options, and a wine and beer lounge. An 18,000 square-foot amenity area includes a terrace and garden on the tenth floor, an outdoor fitness lawn, dog park, and spa-inspired fitness center and yoga room. In addition to spectacular city views, the 33rd floor rooftop deck will boast a 60-foot resort-style pool with water lounge chairs, private cabanas and an outdoor fireplace. Natiivo owners will be only a short distance away from miles of hike-and-bike trails lining Lady Bird Lake. Natiivo Austin will now feature 248 residences, including studios and one- and two-bedroom units, available fully furnished and appointed with upscale amenities. Co-developed by Austin’s own Pearlstone Partners and Florida-based Newgard Development Group, the building’s architecture was conceived by STG Design and its interiors created by New York-based INC Architecture and Design. The development’s design will reflect its surroundings, with handpicked furnishings and native Austin design elements prominent in exteriors, common areas and interiors. Each residence will comfortably speak the language of Austin, built with premium materials, outfitted with upscale fixtures and characterized by locally sourced pieces. Owning a Natiivo Austin condominium will afford conventional ownership benefits, with the added ease of concierge bookings and hotel amenities. Owners and their renters will enjoy housekeeping, grocery delivery, on-site MasterHost, and laundry service. Natiivo owners will be able to list their apartment on any home-sharing platform of their choosing or through Natiivo Managed. With the second option, MasterHost handles all reservation requests, inquiries, check-ins and check-outs, making Natiivo Managed a great choice for owners with limited leisure time. “This ownership concept is a first for the downtown Austin area,” said Bodman. “We are finding our buyers like the flexibility Natiivo Austin offers—having the option of purchasing an unfurnished or fully furnished unit, either as a primary residence or investment. Many are drawn to the idea of living a concierge, resort lifestyle, knowing at any time they can choose to lease their residence and reap the benefits of a steady income stream to cover their investment.”