The Austonian Condominium Tower Refinanced

By Camelia Bulea, Associate Editor The owners of The Austonian have recently refinanced the 56-story luxury complex through Transwestern Structured Finance Group in Houston. No financial details were immediately made public. According to the Austin Business Journal, Spain-based Grupo Villar Mir formed [...]

The owners of The Austonian have recently refinanced the 56-story luxury complex through Transwestern Structured Finance Group in Houston. No financial details were immediately made public.

According to the Austin Business Journal, Spain-based Grupo Villar Mir formed Benchmark LLC and Second Congress Ltd. to develop the tallest building in Austin. The luxury building’s elliptical tower—the only one like it in Austin—gives homeowners and guests 360-degree views of Austin and the Texas Hill Country.

The tower is also the tallest all-residential building in the state of Texas and Texas’ tallest building outside of Houston or Dallas, according to Wikipedia.org.

The condo tower, which opened in June 2010, includes 166 units and more than 40,000 square feet of amenities, among which are:

-          The Austonian Club, a 6,000-square-foot private club on the 55th floor, which also serves as a venue for swing-dancing parties, private fundraisers and board meetings

-          The Lawn, a 12,000-square-foot outdoor recreation space, which features two outdoor grills, eight cabanas, a 75-foot saltwater lap pool, spa, herb garden and dog park

The Austonian has achieved a four-star rating designation through the Austin Energy Green Building Rating System. This rating is approximate to the LEED Gold Rating from the USGBC. The Austin Business Journal also reports that Grupo Villar Mar is developing a second residential project south of Austin named Plum Creek, a master-planned single-family community.

Austin seems to be doing well with regard to the residential market; single-family home sales recorded growth in the month of April. The Austin Business Journal reports that 1,949 single-family homes were sold in the Austin area in April 2012, 16 percent more than the same month last year. Additionally, sales of townhomes and condominiums totaled 191, which is also 16 percent more than a year ago.

Photo credits: Wikipedia.org

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