SRT, a real estate investment trust, provided a $57 million senior loan for the refinancing of The Loren at Lady Bird Lake in Austin. The luxury hotel is owned and managed by The Loren Group, a company specializing in upscale hotels. SRT holds $25 million of the loan while an affiliate on TCG Real Estate’s platform syndicated the remaining $32 million.
The 108-key boutique hotel is located at 1211 W Riverside Drive within a mixed-use development that includes 24 condominiums, two restaurants, spa facilities, fitness center and event space with stunning views of Lady Bird Lake and downtown Austin. Situated on a spacious 1.5-acre site along the south bank of Lady Bird Lake near popular attractions such as Zilker Park and South Congress district.
This news was originally reported by Connect CRE.
