Cottonwood Group has successfully closed a $284 million senior bridge loan facility to support the recapitalization of key assets within the EastVillage master plan. This development spans 425 acres in Austin’s northeast corridor and includes both mixed-use properties and unsold condominium units at The Linden Residences in downtown Austin.
The project was spearheaded by Reger Holdings, which spent several years assembling the site and securing necessary entitlements. Between 2017 and 2018, they acquired the land through multiple transactions.
The financing package consists of four cross-collateralized and cross-defaulted senior mortgages. These include a recently completed multifamily property (The Vaughan), an under-construction mixed-use complex with residential and retail components (The Janis), entitled land parcels for future development (The Land), as well as remaining luxury units at The Linden Residences.
EastVillage is strategically located near Samsung Austin Semiconductor campus, which employs over 10,000 workers. With Samsung’s ongoing expansion plans – including a new $17 billion semiconductor manufacturing facility in nearby Taylor – this area continues to solidify its position as a leading technology hub for innovation.
In summary: Cottonwood Group secured a $284 million loan to support their EastVillage master plan development in Austin consisting of various properties including residential units at The Linden Residences. Spearheaded by Reger Holdings over several years with multiple acquisitions made between 2017-2018; this financing includes four cross-collateralized mortgages on different properties such as multifamily complexes like The Vaughan & upcoming projects like Janis along with entitled land parcels & luxury condos from previous developments all situated near major employer Samsung who currently employs around ten thousand people while expanding further into neighboring Taylor Texas where they’re investing seventeen billion dollars towards another manufacturing plant reinforcing their presence within this region known for its technological advancements & innovative spirit according to Connect CRE reports on behalf of Reger obtaining said refinancing.
