July 7, 2017
HFF arranged a $123.2 million refinancing for Frost Bank Tower, an iconic, trophy Class AA office tower in downtown Austin, TX. HFF worked on behalf of the borrower, Lionstone Investments, to secure the seven-year, floating-rate loan through New York Life Insurance Company.
Completed in 2003 and designed by Duda/Paine Architects, Frost Bank Tower consists of 33 stories of office and ground floor retail space totaling 535,924 square feet. The property occupies an entire city block at 401 Congress Ave., between 4th and 5th Streets in Austin’s CBD.
The 96%-leased property’s tenants include Graves Dougherty Hearon & Moody, and Frost National Bank, which anchors the property. Retail tenants include Soul Cycle, Taco Shack, Juiceland, Houndstooth Coffee and Modern Market.
HFF’s Colby Mueck and Doug Opalka represented the borrower.
For comments, questions or concerns, please contact Dennis Kaiser