logo
logo

Pearlstone Partners And Atco Secure $130 Million In Construction Financing From Msd Partners For Vesper

Nov 18, 2021•almost 4 years ago

Amount Raised

$130 Million

Austin

Description

Austin-based Pearlstone Partners and New York-based ATCO Properties & Management today announced their securing of $130 million in construction financing from MSD Partners, L.P. for Vesper, the 41-story residential high-rise condominiums they are codeveloping at 84 East Avenue in Austin's dynamic Rainey Street Historic District. Pearlstone and ATCO's total investment in the project is $165 million. This is MSD Partners' first financing of a Pearlstone/ATCO project.

Company Information

Company

Pearlstone Partners

Location

Austin, Texas, United States

About

Austin-based Pearlstone Partners is a full-service real estate development firm with more than 100 years of combined experience in the local real estate industry. The company has been responsible for more than $200 million in locally developed real estate and has more than $600 million actively invested in a broad range of commercial projects, including office buildings, condos, multi-family and mixed-use projects in some of Austin's most desirable areas, with an emphasis on urban properties in pedestrian-oriented locations. Pearlstone Partners engages in the economic development of Central Texas by creating high-quality, profitable real estate development projects. With experience managing every stage of the property development life cycle, Pearlstone is uniquely qualified to execute projects from concept through completion. For more information, visit https://www.pearlstonepartners.com.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech