Sunrise Realty Trust Commits $32.0 Million in a Senior Loan for The Loren at Lady Bird Lake in Austin, Texas
Sunrise Realty Trust (SUNS) has committed $32.0 million, with $29.9 million already funded, as part of a $57.0 million senior loan for The Loren at Lady Bird Lake, a luxury boutique hotel in Austin, Texas. The property, developed by The Loren Group, features 108 hotel rooms, 24 condominiums, two restaurants, a spa, fitness center, rooftop infinity pool, and event space.
Located on a 1.5-acre site along Lady Bird Lake's south bank, the hotel offers proximity to downtown Austin's attractions, including Zilker Park and South Congress district. The investment aims to capitalize on Austin's growing economy driven by technology, finance, and tourism sectors, with major events like SXSW and Formula 1 United States Grand Prix generating significant visitor demand.
Sunrise Realty Trust (SUNS) ha impegnato 32,0 milioni di dollari, con 29,9 milioni di dollari già finanziati, come parte di un prestito senior di 57,0 milioni di dollari per The Loren at Lady Bird Lake, un hotel di lusso in stile boutique ad Austin, Texas. La proprietà, sviluppata da The Loren Group, dispone di 108 camere d'albergo, 24 condomini, due ristoranti, una spa, un centro fitness, una piscina a sfioro sul tetto e spazi per eventi.
Situato su un terreno di 1,5 acri lungo la riva sud del Lady Bird Lake, l'hotel offre una posizione strategica vicino alle attrazioni del centro di Austin, tra cui il parco Zilker e il quartiere di South Congress. L'investimento mira a capitalizzare sulla crescente economia di Austin, trainata dai settori tecnologia, finanza e turismo, con grandi eventi come il SXSW e il Gran Premio di Formula 1 degli Stati Uniti che generano una significativa domanda di visitatori.
Sunrise Realty Trust (SUNS) se ha comprometido a invertir 32,0 millones de dólares, con 29,9 millones de dólares ya financiados, como parte de un préstamo senior de 57,0 millones de dólares para The Loren at Lady Bird Lake, un lujoso hotel boutique en Austin, Texas. La propiedad, desarrollada por The Loren Group, cuenta con 108 habitaciones de hotel, 24 condominios, dos restaurantes, un spa, un gimnasio, una piscina infinita en la azotea y espacios para eventos.
Ubicado en un terreno de 1.5 acres a lo largo de la orilla sur del lago Lady Bird, el hotel ofrece proximidad a las atracciones del centro de Austin, incluyendo el parque Zilker y el distrito de South Congress. La inversión busca capitalizar la creciente economía de Austin impulsada por los sectores de tecnología, finanzas y turismo, con grandes eventos como el SXSW y el Gran Premio de Fórmula 1 de Estados Unidos que generan una demanda significativa de visitantes.
선라이즈 리얼티 트러스트(SUNS)는 텍사스주 오스틴에 있는 고급 부티크 호텔인 더 로렌 앳 레이디 버드 레이크를 위한 5,700만 달러 규모의 시니어 대출의 일환으로 3,200만 달러를 투자하겠다고 약속했으며, 그 중 2,990만 달러가 이미 자금을 지원받았습니다. 이 부동산은 더 로렌 그룹에 의해 개발되었으며, 108개의 호텔 객실, 24개의 콘도미니엄, 두 개의 레스토랑, 스파, 피트니스 센터, 루프탑 인피니티 풀 및 이벤트 공간이 있습니다.
레이디 버드 호수의 남쪽 기슭에 위치한 1.5에이커 부지에 세워진 이 호텔은 짐 클리어 공원과 사우스 콩그레스 지구를 포함한 오스틴 시내의 명소와 근접해 있습니다. 이 투자의 목적은 SXSW와 포뮬러 1 미국 그랑프리와 같은 주요 행사가 방문객 수요를 크게 증가시키고 있는 기술, 금융, 관광 부문이 주도하는 오스틴의 성장하는 경제를 활용하는 것입니다.
Sunrise Realty Trust (SUNS) s'est engagé à investir 32,0 millions de dollars, dont 29,9 millions de dollars déjà financés, dans le cadre d'un prêt senior de 57,0 millions de dollars pour The Loren at Lady Bird Lake, un hôtel boutique de luxe à Austin, Texas. La propriété, développée par The Loren Group, comprend 108 chambres d'hôtel, 24 condominiums, deux restaurants, un spa, un centre de remise en forme, une piscine à débordement sur le toit et des espaces événementiels.
Situé sur un terrain de 1,5 acre le long de la rive sud du Lady Bird Lake, l'hôtel offre une proximité avec les attractions du centre d'Austin, y compris le parc Zilker et le quartier de South Congress. Cet investissement vise à tirer parti de la croissance de l'économie d'Austin, soutenue par les secteurs de la technologie, des finances et du tourisme, avec de grands événements comme le SXSW et le Grand Prix de Formule 1 des États-Unis générant une demande significative de visiteurs.
Sunrise Realty Trust (SUNS) hat sich verpflichtet, 32,0 Millionen Dollar zu investieren, davon sind bereits 29,9 Millionen Dollar finanziert, als Teil eines Senior-Darlehens in Höhe von 57,0 Millionen Dollar für The Loren at Lady Bird Lake, ein luxuriöses Boutique-Hotel in Austin, Texas. Das Grundstück, entwickelt von der Loren Group, verfügt über 108 Hotelzimmer, 24 Eigentumswohnungen, zwei Restaurants, ein Spa, ein Fitnesscenter, einen Infinity-Pool auf dem Dach und Veranstaltungsräume.
Das Hotel befindet sich auf einem 1,5 Hektar großen Grundstück am Südufer des Lady Bird Lake und bietet einen nahegelegenen Zugang zu den Attraktionen von Downtown Austin, darunter der Zilker Park und das South Congress Viertel. Die Investition zielt darauf ab, von der wachsenden Wirtschaft Austins zu profitieren, die durch die Sektoren Technologie, Finanzen und Tourismus angekurbelt wird, wobei große Veranstaltungen wie das SXSW und der Formel 1 Grand Prix der Vereinigten Staaten eine erhebliche Nachfrage von Besuchern generieren.
- Significant loan commitment of $32.0 million with $29.9 million already funded
- Investment in high-demand luxury hotel market in growing Austin economy
- Strategic location near major attractions and business districts
- Property benefits from major events driving tourism (SXSW, F1) in Austin
- None.
Insights
The
Austin's hospitality market fundamentals strongly support this investment thesis. The city's thriving tech ecosystem, anchored by major corporations and startups, generates substantial business travel demand. High-profile events like SXSW and F1 racing create predictable peak demand periods, while the city's growing leisure tourism provides baseline occupancy. The property's location near Zilker Park and South Congress positions it perfectly for both business and leisure travelers seeking upscale accommodations. The boutique hotel's 108-key size is well-calibrated for the luxury segment, while the mixed-use component with 24 condominiums adds stability to the asset's performance. The rooftop amenities and lakefront location create unique selling propositions in an increasingly competitive market.
WEST PALM BEACH, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed
The Loren is a 108-key boutique luxury hotel at 1211 W Riverside Drive, part of a mixed-use project that includes 24 condominiums, two restaurants, a spa, fitness center, rooftop terrace with an infinity pool, and event space with sweeping lake and city views. Situated on a prime 1.5-acre site along the south bank of Lady Bird Lake, the Project offers a tranquil retreat while remaining within easy reach of downtown Austin’s top attractions, including Zilker Park and the South Congress district. This location provides guests with unmatched access to the heart of Austin’s cultural and recreational offerings, combining luxury, convenience, and scenic surroundings in one destination.
Austin’s growing economy, fueled by technology, finance, and tourism, has made it a premier destination for business and leisure travelers. Major events like SXSW and the Formula 1 United States Grand Prix draw millions of visitors annually, driving demand for luxury accommodations, like the Loren.
“The Loren is a standout property that captures the essence of Austin’s charm and sophistication,” said Brian Sedrish, Chief Executive Officer of SUNS. “With its ideal setting by Lady Bird Lake and luxury amenities, we believe this investment will elevate the Austin experience for guests and strengthen our portfolio in a vibrant, growing market.”
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions to sponsors of commercial real estate located in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and Southern cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (NASDAQ: SUNS), and private mortgage REIT, Southern Realty Trust, Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets in primary and secondary metropolitan areas of the Southern U.S.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views and projections with respect to, among other things, the Company’s beliefs with respect to the Loren’s positioning in the market, and cash flows and returns related to investments in hospitality real estate projects. All statements other than statements of historical fact, are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” in the Company’s registration statement on Form 10 and subsequent filings available on the SEC’s website could cause actual results and performance to differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact:
Robyn Tannenbaum & Lana Ping
561-510-2293
ir@sunriserealtytrust.com
Media Contact:
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
rmyers@profileadvisors.com
FAQ
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