Red Bluff – Austin, TX (~$100mm):
Vandever Capital formalized a General Partnership Agreement between the alternative investment arm of a prominent family office based in Dallas with an Austin-based developer entity seeking capital for a Class-A development in East Austin.
The ~$100mm project, which is currently under development, will consist of five-star hotel featuring seventy four rooms, a luxury spa partnership that will be the first in North America, approximately seventy thousand square feet of Class-A office, thirteen thousand square feet of boutique retail, and an event space overlooking the Colorado River.
Red Bluff: Phase I Construction & Phase II Land Refi – Austin, TX (~$28.91mm)
Vandever Capital secured ~$2.26mm on behalf of the developer partnership to refinance two tracts for Phase II of Red Bluff’s development, shortly thereafter closing on ~$26.65mm of construction financing to fund Phase I as an equity partner.
Phase I will consist of 91,635 square feet of Class-A office and retail space in addition to structured parking that will service the entire mixed-use project. Designed by world-renowned architect Studio Rick Joy out of Tucson, AZ, Phase I promises to be one of the most architecturally innovative properties in Austin’s East Side submarket, soon-to-be followed by the Phase II’s seventy-four key luxury boutique hotel and spa overlooking the Colorado River.
Single-Family Rental Debt Facility – Southeast USA (~$275mm):
Vandever Capital was retained to advise on a ~$275mm single-family rental revolving credit facility for a large investment management firm based in Miami, FL.
Said assignment included the ~$75mm refinancing of a static legacy portfolio, as well as a ~$200mm revolver for newly constructed acquisitions and development partnerships.
Indian Hills – Austin, TX (~$18.0mm):
Vandever Capital was retained by an Austin-based development firm to procure ~$18mm of development capital for horizontal infrastructure improvements in addition to construction capital for two Class-A office buildings to kick off a two hundred and forty-acre mixed-use development in Northeast Austin.
Indian Hills is zoned for ~1,200 multifamily units, in addition to ~1.2 million square feet of office, retail, industrial, and flex space.
Hampton Inn – Keller, TX (~$13.3mm):
Vandever Capital procured a ~$13.3mm construction debt package for a 130-key Hampton Inn in the DFW Metroplex on behalf of a Texas-based commercial real estate developer.
The capital structure consisted of a $9.3mm senior loan from a Dallas-based regional bank and a $4.0mm mezzanine loan via a Miami-based family office.
Greenway Tower – Dallas, TX (~$11.0mm):
Vandever Capital closed a ~$11mm tenant improvement, leasing commission, and capital expenditure debt facility on behalf of a Boston-based private equity firm with extensive commercial real estate experience throughout the state of Texas.
Said client acquired a ~190,000 square foot Class-B office building located in the desirable DFW submarket of Las Colinas in an all-cash transaction of ~$14.9mm. The TI, LC, and CapEx facility was used to reposition the property in preparation of re-stabilizing the building with investment-grade tenants prior to a cap rate exit.
Network Tech 1031 Exchange – San Antonio and Austin, TX (~$17.1mm):
Vandever Capital secured a ~$17.1mm financing package for a San Diego-based family office seeking to acquire two assets in Austin to complete a 1031 exchange.
Our capital markets team underwrote numerous financing scenarios, and ultimately originated two loans utilizing a senior and mezzanine structure allowing for optimal cash flow based on in-place rent rolls and future development capabilities.
Alliance Gateway – Fort Worth, TX (~$17.2mm):
Vandever Capital advised an Austin-based investment firm on a ~$17.2mm loan secured by a 215,125 square-foot office/industrial building located in the Alliance Gateway corridor in the DFW Metroplex.
The client wished to procure capital to refinance the property’s existing debt facility and to provide additional funding for future tenant improvements, leasing commissions, and capital expenditures. Final proceeds were negotiated to over 75% LTC for a floating rate facility priced over one-month LIBOR.
Las Entradas – Austin, TX (~$7.5mm Revolver):
Vandever Capital was retained to refinance an existing loan and consult on a PID bond issuance that will supply the required capital to unlock a tremendous amount of value by connecting a prominent state highway with a key arterial road in the northeast Austin suburb of Manor, Texas.
Vandever Capital simultaneously worked with the municipal bond issuer and structured a ~$7.5mm revolving debt facility that provided adequate capital for our client to pay off their existing debt obligation, start construction on the connector road, and secure a letter of credit for PID bond issuance.