German Bank Helaba Refis Luxury Austin Apartments With $200M Loan

A joint venture involving Kairoi Residential, Lincoln Property Company and DivcoWest has sealed a $200 million loan to refinance a new luxury multifamily asset within a mixed-use tower in Austin, Texas, Commercial Observer has learned.

German bank Helaba provided the loan for the 2024-built Residences at 6G project developed by co-developers Kairoi and Lincoln along with DivcoWest as a limited partner. The 348-unit development occupies the top 32 floors in a 66-story tower known as Sixth and Guadalupe, which also features office and retail space.

The unit mix at Residences at 6G includes studios, one-bedroom, two-bedroom and three–bedroom apartments, along with 24 penthouses. Community amenities include a fitness center, two swimming pools, a movie theatre and a sky lounge. 

“Residences at 6G represents one of the highest-quality multifamily projects in the country, delivered by an experienced and well-capitalized sponsorship team,” Jason Deck, director of real estate finance at Helaba, said in a statement. “The transaction further reinforces our commitment to Austin, a market we continue to view as one of the most dynamic and resilient across the U.S.”

Deck added that Helaba is also looking to sell off a piece of the loan. 

Located at 600 Guadalupe Street, the Gensler-designed tower was completed in late 2023 as Austin’s tallest skyscraper before it was supplanted last year by the 74-story Waterline Tower. Facebook’s parent company, Meta, initially leased the building’s full office space of 589,000 square feet, but in fall 2022 decided to sublease it while re-evaluating its real estate portfolio, The Real Deal reported at the time. 

Kairoi Residential, Lincoln Property Company and DivcoWest did not immediately return requests for comment. 

Andrew Coen can be reached at acoen@commercialobserver.com.