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The JLL-arranged loan tracks with regional demand in fast-growing science hub.
Sponsors include Goldman Sachs AM, Domain Companies, Vorea Group and Mega Development
The 74-story mixed-use property will be the tallest building in Texas when it comes online in 2026.
The financing package for 5 Times Square is one of three major loans originated on offices in the submarket in the past few months.
The Irvine, California-based manager thinks the slowdown could be a sign of things to come.
Debt funds and other alternative managers see room to fill the void where banks have pulled back.
Namdar Group will use the financing for a residential tower acquisition, construction.
The funding is split into a $67.6m mezzanine loan and a $147.5m senior loan.
The firm recently expanded in the Pacific Northwest, hiring Blake Rodgers to head its new Seattle office.
The borrower, Carter Multifamily, secured the floating-rate loans through Freddie Mac.