Cottonwood Group has closed a $284 million senior bridge loan facility. This financing supports the recapitalization of key assets within the EastVillage master plan, a 425-acre mixed-use development in Austin’s northeast corridor, as well as the remaining unsold condominium units at The Linden Residences in downtown Austin.
“Northeast Austin is emerging as a hub of innovation and growth,” said Mark Green, Chief Investment Officer of Cottonwood. “We believe the EastVillage development represents a thoughtfully designed, highly diversified community that caters to both residents and businesses, offering advantageous access to amenities and major employers.”
The facility includes four cross-collateralized and cross-defaulted senior mortgages, comprising a recently delivered 312-unit multifamily property (The Vaughan), an under-construction, mixed-use multifamily and retail complex (The Janis), 19 entitled land parcels, and the remaining unsold luxury units at