{"id":13378,"date":"2025-01-15T21:32:22","date_gmt":"2025-01-16T03:32:22","guid":{"rendered":"https:\/\/1reason.com\/re\/southern-realty-trust-originates-57-0-million-senior-loan-for-the-loren-at-lady-bird-lake-in-austin-texas\/13378\/"},"modified":"2025-01-16T15:32:22","modified_gmt":"2025-01-16T21:32:22","slug":"southern-realty-trust-originates-57-0-million-senior-loan-for-the-loren-at-lady-bird-lake-in-austin-texas","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/southern-realty-trust-originates-57-0-million-senior-loan-for-the-loren-at-lady-bird-lake-in-austin-texas\/13378\/","title":{"rendered":"Southern Realty Trust Originates $57.0 Million Senior Loan for\u00a0The Loren at Lady Bird Lake in Austin, Texas"},"content":{"rendered":"
The Sponsor is The Loren Group, a leading real estate company that specializes in developing, owning, and managing luxury hotels in high-demand destination markets. SRT holds $25.0 million of the loan, while the remaining $32.0 million was syndicated to an affiliate on the TCG Real Estate platform. JLL Capital Market\u2019s Debt Advisory team representing the borrower was led by Wally Reid and Scott Dickey. <\/p>\n

The Loren is a 108-key boutique luxury hotel at 1211 W Riverside Drive, part of a mixed-use project that includes 24 condominiums, two restaurants, a spa, fitness center, rooftop terrace with an infinity pool, and event space with sweeping lake and city views. Situated on a prime 1.5-acre site along the south bank of Lady Bird Lake, the Project offers a tranquil retreat while remaining within easy reach of downtown Austin\u2019s top attractions, including Zilker Park and the South Congress district. This location provides guests with unmatched access to the heart of Austin\u2019s cultural and recreational offerings, combining luxury, convenience, and scenic surroundings in one destination.<\/p>\n

Austin\u2019s growing economy, fueled by technology, finance, and tourism, has made it a premier destination for business and leisure travelers. Major events like SXSW and the Formula 1 United States Grand Prix draw millions of visitors annually, driving demand for luxury accommodations, like The Loren.<\/p>\n

\u201cThe Loren offers a fresh take on luxury, blending Austin\u2019s dynamic culture with the comfort and refinement travelers seek,\u201d said Brian Sedrish, Chief Executive Officer of SRT. \u201cWe\u2019re pleased to support a property that enriches Austin\u2019s hospitality scene. This investment diversifies our portfolio and aligns with our commitment to high-quality investments in premier locations in the Southern U.S.\u201d<\/p>\n

About Southern Realty Trust Inc.<\/strong>
SRT was formed in 2023 to originate commercial real estate (\u201cCRE\u201d) debt investments in the Southern U.S. and provide capital to high-quality borrowers and sponsors with transitional business plans collateralized by top-tier CRE assets with opportunities for near-term value creation, as well as recapitalization opportunities. SRT intends to create a diversified investment portfolio, targeting first mortgages, B-notes, mezzanine loans and debt-like preferred securities across CRE asset classes. For additional information regarding the Company, please visit: www.theSRTgroup.com<\/a>.<\/p>\n

About TCG Real Estate<\/strong>
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (NASDAQ: SUNS), and private mortgage REIT, Southern Realty Trust, Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets in primary and secondary metropolitan areas of the Southern U.S.<\/p>\n

Forward-Looking Statements<\/strong>
Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. The Company\u2019s forward-looking statements are generally accompanied by words such as \u201cintend,\u201d \u201cwill,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cpredict,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cpotential,\u201d \u201cplan,\u201d \u201cgoal\u201d or other words that convey the uncertainty of future events or outcomes. Statements, among others, relating to the Company\u2019s beliefs with respect to the Loren\u2019s positioning in the market, and cash flows and returns related to investments in hospitality real estate projects are forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company\u2019s control. Actual results and performance in the future could differ materially from those set forth in or implied by such forward-looking statements.<\/p>\n

Investor Relations Contact:<\/strong>
Robyn Tannenbaum & Lana Ping
561-510-2293
ir@thesrtgroup.com<\/a><\/p>\n

Media Contact:<\/strong>
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
srt@profileadvisors.com<\/a><\/p>\n

\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

WEST PALM BEACH, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) — Southern Realty Trust Inc. (\u201cSRT\u201d or the \u201cCompany\u201d) today announced that it originated a senior loan in the aggregate amount of $57.0 million for the refinancing of The Loren at Lady Bird Lake (the \u201cProject\u201d or \u201cThe Loren\u201d), a luxury hotel located in Austin, Texas.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13378"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=13378"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13378\/revisions"}],"predecessor-version":[{"id":13383,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13378\/revisions\/13383"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=13378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=13378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=13378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}