Rendering for web site and PPT - Travis County

County of Travis, TX

Austin, TX


Fixed rate construction-to-permanent CTL Private Placement Bond financing.

  • To-be-built 78,638 SF office building and a shared off-site parking garage
  • Leasehold interest in a twenty-five (25) year NNN sub-lease, subject to annual appropriations risk
  • Land is a part of a larger parcel resulting in formation of two condominium units with the subject unit pledged as collateral
  • Leasehold condominium units are subject to an unsubordinated ground lease for ninety-nine (99) years
  • Construction risk mitigated with Surety Bond for Performance and Payment, GMP Contract  and Repayment Guaranty from Borrower/Indemnitors until construction has been completed
  • Eight (8) staged bond fundings over 21 months saved Borrower significant interest carry costs
  • 16.1 year average life with 26.75 year final maturity
  • 100% Loan to Cost