AUSTIN, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged joint venture equity for the development of Gables Republic Square, a 24-story, Class AA+ mixed-use residential and hotel project in downtown Austin, Texas.
HFF worked exclusively on behalf of the developer, Gables Residential, to arrange joint venture equity for the development of the property through The Carlyle Group.
Due for completion in early 2019, Gables Republic Square will be located at 400 Lavaca Street and will encompass 221 residential units along with a separately-owned, 159-key Hotel ZaZa. The residential component will have a ground-floor lobby with residential units located on floors 13 through 24. Additionally, the Hotel ZaZa lobby, valet, bar and spa will occupy the ground floor while the hotel ballroom, restaurant and swimming pool will be located on floor 7 and guest rooms on floors 8 through 12. Floors two through six of the property will be reserved for residential parking, and two levels of subgrade parking will be reserved for the hotel. Gables Republic Square will be an Austin Energy Green Building (Two Star Level), which is comparable to LEED certification, and features a design inspired by the surrounding historic Warehouse District.
The property’s for-rent homes will offer best-in-class finishes, including granite or quartz counters in kitchens and baths; stainless steel appliances; upgraded cabinetry; in-unit washers and dryers; wood or wood laminate flooring in all living and dining areas; built-in speakers in kitchen and dining area; eight-foot doors; granite thresholds; and balconies. Residents will have access to a rooftop amenity area featuring panoramic views of the city as well as a swimming pool, hot tub, outdoor kitchen, fireplace, club room, library and state-of-the-art fitness center. In addition, residents will have access to a music practice room shared with the hotel and limited residential room service provided by Hotel ZaZa.
The HFF debt placement team representing the borrower was led by director Robert Wooten and senior managing director Matt Kafka.
About Gables Residential: Gables Residential is an award-winning, vertically integrated, real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables Residential owns, develops and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. Gables also provides third party management services in the New York, New Jersey, Baltimore, Frederick, Tampa, Phoenix, Seattle, San Antonio, Charlotte, Central and North Florida markets.
Gables manages approximately 30,500 apartment homes and 515,000 square feet of retail space and has received national recognition for excellence in development, management, sales, marketing, training, benefits and corporate accommodations. These achievements reflect the impact of the company’s experienced and dedicated team members, superior knowledge of the markets served and expertise in development and management.
About The Carlyle Group: The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $176 billion of assets under management across 128 funds and 170 fund of funds vehicles as of June 30, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate,
About Hotel Zaza: Hotel ZaZa is an innovative leader in hospitality with properties in Dallas, Houston and a location in development in Austin, Texas. The brand blends the best of business travel with the luxury and sensuality of a destination resort. The Hotel ZaZa brand and concept offers a unique, soulful experience differentiating the brand from other hotels in Texas and on a national scale. Hotel ZaZa properties are known for their unexpected, elegant accommodations, thought-provoking art as well as extraordinary meeting and event spaces. Along with their ZaSpa concept and poolside experience, the hotels are an unexpected feast for the senses that exceed all expectations with their whimsical imagination and rousing atmospheres.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF. Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.