Affinius Capital originates $83.8 million construction loan for Waterstone – 894,000 SF, four-building industrial development in Kyle, TX

Affinius Capital LLC (“Affinius Capital”) announced today that it has originated an $83.8 million loan to finance the ground-up development of Waterstone, an 894,000-square-foot, four-building industrial development in Kyle, TX. Bank OZK provided the senior portion of the loan, while Affinius Capital originated the subordinate portion. The loan was provided to a joint venture between Goldman Sachs and Lincoln Property Company (“Lincoln” and will be used to finance the construction and lease up of the project.

Affinius Capital Managing Director Tom Burns commented, “This transaction represented a compelling opportunity to provide construction financing for a strategically located industrial complex with excellent connectivity to I-35, providing tenants seamless access to San Antonio and Austin. With this transaction, we are delighted to strengthen and expand our relationship with both Goldman Sachs and Lincoln Property Company.”

“We are excited to begin construction on the Waterstone development with our partners, who have been instrumental in the work that has been done do get this project out of the ground,” said Cole Kennedy of Lincon. “Waterstone is ideally positioned in the market to provide opportunity to the growing south I-35 corridor in the greater Kyle/San Marcos region, with the unique ability to serve both Austin and San Antonio.”

Waterstone will feature 32’-36’ clear heights, 232 dock-high doors, ten drive-in doors, and 994 parking stalls across its four buildings. Located just off I-35, the industrial property will offer seamless connectivity to Austin and San Antonio allowing tenants to access a population of 5.4 million people within a 90-minute drive. Additionally, Waterstone is located 30 miles from Tesla’s Gigafactory, which has increased industrial demand across the greater Austin region.