{"id":1004225658,"date":"2018-05-04T04:46:12","date_gmt":"2018-05-04T12:46:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004225658"},"modified":"2022-12-09T00:12:55","modified_gmt":"2022-12-09T08:12:55","slug":"jv-secures-financing-for-creative-office-conversion-in-austin","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-secures-financing-for-creative-office-conversion-in-austin\/","title":{"rendered":"JV Secures Financing for Creative Office Conversion in Austin"},"content":{"rendered":"<p>By Anca Gagiuc<\/p>\n<div id=\"attachment_1004227467\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004227467\" data-attachment-id=\"1004227467\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-secures-financing-for-creative-office-conversion-in-austin\/upcycle-email\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"UpCycle Email\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg?w=800\" class=\"wp-image-1004227467 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/UpCycle-Email.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004227467\" class=\"wp-caption-text\">UpCycle rendering<\/p><\/div>\n<p>HFF has secured $19.9 million in financing for the conversion of a warehouse property on Sixth Street in East Austin. The HFF team worked on behalf of the borrower, a joint venture between EverWest Real Estate Investors and WHI Real Estate Partners.<\/p>\n<p>The three-year, floating-rate loan was secured through an entity affiliated with the commercial real estate lending platform of Marathon Asset Management. Loan proceeds are being used to complete the conversion of the warehouse properties into creative office.<\/p>\n<div id=\"attachment_1004227473\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004227473\" data-attachment-id=\"1004227473\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-secures-financing-for-creative-office-conversion-in-austin\/upcycle-interior-email\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"UpCycle interior Email\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;UpCycle rendering&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg?w=800\" class=\"wp-image-1004227473 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/UpCycle-interior-Email.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004227473\" class=\"wp-caption-text\">UpCycle rendering<\/p><\/div>\n<p>Dubbed UpCycle, the 81,711-square-foot industrial facility is spread across two parcels totaling 3.06 acres, located at 2498 E. Sixth St. The location is only 1.5 miles from Austin\u2019s CBD, and various new Class A apartments and entertainment venues in the <a href=\"https:\/\/www.commercialsearch.com\/news\/healthy-demographics-push-up-demand-in-austin\/\">revived East Austin neighborhood<\/a>. The office project is scheduled for completion in May 2018 and features Class A office finishes, while common-area amenities include:<\/p>\n<ul>\n<li>patio space<\/li>\n<li>conference space<\/li>\n<li>collaborative areas<\/li>\n<li>bike storage<\/li>\n<li>coffee bar<\/li>\n<li>showers<\/li>\n<li>free on-site parking for tenants<\/li>\n<\/ul>\n<p>The HFF debt placement team representing the borrower included Managing Director Robert Wooten and Senior Managing Director Eric Tupler.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EverWest Real Estate Investors and WHI Real Estate Partners are converting a 81,711-square-foot warehouse property in East Austin into a creative office project named UpCycle.<\/p>\n","protected":false},"author":237,"featured_media":1004227467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21782,21825,21742,21747],"tags":[40101,32792,37354],"class_list":["post-1004225658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-development","category-finance","category-latest","category-office","tag-everwest-real-estate-investors","tag-hff","tag-whi-real-estate-partners-lp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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