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Intracorp Secures $194M for Condo, One of Few Underway in Downtown Austin

Since breaking ground in October of last year, 44 East Ave. is one of the only condo buildings currently under construction in downtown Austin, the only one planned for completion in 2022 and Intracorp’s first Austin development.

AUSTIN, TX—Construction financing to the tune of $194 million has been secured for 44 East Ave., Intracorp’s first Austin development, provided by MSD Partners LP and Bank OZK. The 49-story condominium high-rise located in the Rainey Street district at 44 East Ave. is scheduled for completion in 2022 with homes available for purchase now.

“Austin’s resilience, like its dynamism, makes the city so enticing, and it’s one of the many reasons Intracorp chose to develop here,” says Don Forsgren, Intracorp president and CEO, North America. “It’s also why capital investment in this city continues to make sense even today. We are excited to complete this new financing from MSD and Bank OZK, allowing Intracorp to take an important step forward in delivering an extraordinary new residential tower to downtown Austin.”

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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