NorthMarq completes $64.5 million refinance of iconic SXSW Center in Austin, Texas
AUSTIN, TEXAS (February 13, 2020) – Jim Lemos, senior vice president/senior director of NorthMarq’s Austin office arranged financing of $64.5 million for the SXSW Center. The 143,998 sq. ft. office property is located at 1400 Lavaca Street in Austin, Texas.
“SXSW founded here in 1986 is an iconic brand focused on music, film, interactive gaming and social media. The new SXSW HQ affords them and their clients world class creative and collaborative space.“
Financing Details:
- 26-year fixed-rate fully amortizing loan
- NorthMarq arranged the permanent-fixed rate loan through its correspondent relationship with Pacific Life Insurance Company.
Property Details:
- SXSW Center is a 13 story Class A LEED certified office building designed by world-famous architect Pei Cobb Freed.
- The building’s Class A finishes, inter-activate lobby, unique column free-layout, and rooftop garden/event space provide a one-of-a-kind environment for tenants and visitors.
- SXSW Center is conveniently located in the CBD near the State Capitol, DELL Medical School and the University of Texas campus.
- Electric car charging stations are available in the attached 300-space parking garage.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
