Southwest Regional Office

River South
Austin, Texas

“ New York Life is pleased to announce the construction financing for River South, a 350,000 square foot, Class A+ office tower located in Austin, TX. When completed, the building will rise 15 stories and include subterranean and above grade parking, as well as ground floor retail space. River South will be situated immediately south of the Austin CBD across Lady Bird Lake in the burgeoning South Congress Avenue neighborhood, a highly walkable strip of eclectic retail, entertainment venues, and boutique hotels.”

“This financing demonstrates NYLREI’s ability to leverage our broad platform’s relationships to source attractive debt investment opportunities in superior projects with institutional quality borrowers,” said Leslie Cassingham, New York Life Real Estate Investors senior director and head of the Southwest Regional Office.”

“This transaction highlights NYLREI’s capability to structure and underwrite large construction loans to meet institutional developers’ needs,” said Timothy Monroe, New York Life Real Estate Investors senior director and head of Originations for the Structured Lending Platform.”

“Since formalizing the program in 2012, NYLREI has arranged over $3.9 billion of structured loans, demonstrating our ability to source attractive risk adjusted opportunities for investors,” concluded John Lippmann, New York Life Real Estate Investors senior director and head of Structuring for the Structured Lending Platform. ”

  • Unique, highly amenitized, live/work/play location offering enhanced accessibility and shortened commute times
  • Unparalleled views of the Austin skyline and Lady Bird Lake with direct connectivity to surrounding Austin Hike and Bike Trail, numerous outdoor parks, Zilker Park and Barton Springs
  • Class leading property amenities and creative office ceiling heights of 14' 6" with floor to ceiling windows
  • Above market parking ratio and large 37,000 sf floor plates which are attractive to increasingly larger corporate tenants moving to downtown

Source: REI Southwest Regional Office, April 2019.