{"id":121726,"date":"2026-01-13T20:04:08","date_gmt":"2026-01-13T20:04:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/121726\/"},"modified":"2026-01-13T20:04:08","modified_gmt":"2026-01-13T20:04:08","slug":"jll-arranges-recapitalization-for-luxury-for-lease-condos-the-modern-austin-residences","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/121726\/","title":{"rendered":"JLL Arranges Recapitalization for Luxury For-Lease Condos The Modern Austin Residences"},"content":{"rendered":"

\"The<\/a>JLL represented the borrower, Urbanspace Development, in securing financing for the 319-unit mixed-use project through a joint venture between Peregren Capital Group and Koch Real Estate Investments (KREI) in coordination with senior-note-on-note financing from Axos Bank.<\/p>\n

JLL Capital Markets\u00a0<\/a>announced that it has secured financing to recapitalize the existing construction loan for The Modern Austin Residences<\/a>, a premier luxury high-rise condominium development in downtown Austin, Texas.<\/p>\n

Completed in 2025, The Modern Austin Residences rises 56 stories and features 319 luxury condominiums ranging from one-bedroom units to five-bedroom penthouses with floor plans spanning 600 to over 6,000 square feet. Interiors, designed by the Urbanspace Design Studio, features floor-to-ceiling glass, panoramic views of Lady Bird Lake and the Austin skyline, and private terraces. Amenities are conceived as a private members\u2019 club, offering residents a 25-meter heated pool, fitness studios, private dining rooms and a 35th-floor speakeasy. The design architect was Nelsen Parners, with Page serving as the architect of record and Flintco as general contractor.<\/p>\n

Located at 610 Davis Street in Austin\u2019s highly sought-after Rainey Street District, The Modern offers residents immediate access to some of the city\u2019s most celebrated dining, nightlife and outdoor destinations, including Lady Bird Lake, the Butler Hike-and-Bike Trail and the nearby Waterloo Greenway. The property benefits from exceptional connectivity to major thoroughfares and is situated approximately 10 miles from Austin-Bergstrom International Airport. The historic Rainey Street District has evolved into one of Austin\u2019s premier urban destinations for entertainment and luxury living.<\/p>\n

Austin continues to demonstrate strong population and economic growth, reinforcing its position as one of the nation\u2019s most dynamic metropolitan markets. Anchored by a diverse economy that includes technology, government and the University of Texas, the city attracts a highly educated workforce and sustained job creation. The Rainey Street District, in particular, has evolved from a historic residential enclave into one of Austin\u2019s premier urban destinations for living, entertainment and dining. With a Walk Score of 93, the location offers exceptional urban accessibility and a highly desirable lock-and-leave lifestyle.<\/p>\n

The development includes ground-floor hospitality space designed as a coffee shop by day and upscale cocktail lounge by night, scheduled to open in Q1 2026, plus fully built-out lower-level retail space available for lease.<\/p>\n

JLL Capital Market\u2019s Debt Advisory team was led by Senior Managing Director Doug Opalka.<\/p>\n

\u201cThis successful refinancing demonstrates the continued strength and investor confidence in Austin\u2019s luxury residential market,\u201d said Opalka. \u201cThe Modern Austin Residences\u2019 prime location in the Rainey Street District and exceptional design position it as a premier residential destination in one of the nation\u2019s most dynamic urban markets.\u201d<\/p>\n

\u201cPeregren is very excited to continue being a part of this amazing mixed-use development. The Modern is truly a one-of-a-kind building that stands out with respect to quality and amenities in the ever-evolving Rainey Street district,\u201d Tucker Hughes of Peregren commented. \u201cThe Peregren principals have financed several of the downtown Austin condo towers (often in collaboration with Urbanspace) and this is the highest quality tower Austin has ever seen. If you haven\u2019t seen The Modern or the \u201cNew Rainey\u201d, it\u2019s worth a trip.\u201d<\/p>\n

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group\u2019s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.<\/p>\n

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