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Sign in Sign up for a FREE subscriptionGoldman Sachs, Lincoln Property Co. JV secure $83m for 894,000sf, four-building industrial development in Kyle, Texas
A joint venture between Goldman Sachs and Lincoln Property Company has secured a $83.8 million loan to finance the ground-up development of Waterstone, an 894,000-square-foot, four-building industrial development in Kyle, Texas. Bank OZK provided the senior portion of the loan, while Affinius Capital originated the subordinate portion. The loan will be used to finance the construction and lease-up of the project.
“We are excited to begin construction on the Waterstone development with our partners, who have been instrumental in the work that has been done do get this project out of the ground,” said Cole Kennedy, development and acquisitions associate at Lincoln Property Company. “Waterstone is ideally positioned in the market to provide opportunity to the growing south Interstate 35 corridor in the greater Kyle/San Marcos region, with the unique ability to serve both Austin and San Antonio.”
Waterstone will feature 32-foot to 36-foot clear heights, 232 dock-hi