Intracorp will be completing the development of a 49-story condominium in Rainey Street district. | Pixabay
Intracorp will be completing the development of a 49-story condominium in Rainey Street district. | Pixabay
Intracorp has secured $194 million in financing for its first development in Austin.
“Austin’s resilience, like its dynamism, makes the city so enticing and it’s one of the many reasons Intracorp chose to develop here,” Don Forsgren, Intracorp president and CEO for North America, told GlobeSt. “It’s also why capital investment in this city continues to make sense even today. We are excited to complete this new financing from MSD and Bank OZK, allowing Intracorp to take an important step forward in delivering an extraordinary new residential tower to downtown Austin.”
The company will be finishing the development of a 49-story condominium in the Rainey Street district, which is expected to be complete in 2022. The condominium will have homes ranging from $400,000 to $4 million, with some available to purchase now.
| Contributed artist's rendering
“We are pleased to commit to 44 East Avenue, a unique condo project being developed by a highly experienced partner in Intracorp,” Adam Piekarski, co-head of real estate credit at MSD Partners, told GlobeSt. "We believe the Austin market will again demonstrate its resilience, as the city and region continue to benefit from the relocation of large numbers of people and companies."
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