In Austin, Texas, Alliant provided a $10.6 million loan for the acquisition of a 77,985-square-foot industrial flex property comprising four single-story buildings offering a mix of office and warehouse space. The property is over 90% occupied by 17 tenants.
Terms of the 5-year Alliant loan included a rate lock, full-term interest-only payment structure, and flexible prepayment penalty. The borrower was a private investor group. Ron Granite and Jason Hochman of Cushman and Wakefield referred the transaction to Alliant.
Constructed in 1986, the well-maintained Springwoods Business Center is located about 13 miles north of downtown Austin, in a growing suburb with access to main thoroughfares and freeways. The northwest submarket is the center of Austin’s high-tech sector and one of the most attractive for corporate relocations in the region. Dozens of well-known technology companies have recently announced efforts to relocate or expand their operations in the Austin area.