Printer Friendly

Corus closes W Hotel loan.

Corus Bankshares, Inc. banking subsidiary, Corus Bank, closed a $165,000,000 loan to CJUF II Stratus Block 21, LLC, an affiliate of Stratus Properties Inc. and Canyon-Johnson Urban Fund II LP, to finance the construction of the W Hotel and Residences, a 37-story condominium and hotel project located at 308 W. Second Street in Austin, Texas.

The project will consist of 198 residential condominium units, 252 hotel guest rooms, 60,000 s/f of retail and office space, and a live performance venue.

This project is the Bank's first with Stratus Properties and second with the Canyon-Johnson Urban Fund. "We are eager to work with Stratus Properties on such a large-scale project which will not only bring new residences and a W-flagged hotel to the city, but also a new music venue to continue the tradition which has made Austin the live music capital of the world," said Brian Brodear, Corus Bank SVP.
COPYRIGHT 2008 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FINANCE
Publication:Real Estate Weekly
Date:May 14, 2008
Previous Article:GE Real Estate provides $960m mortgage loan to iStar Financial.
Next Article:New NASBP president prepared for challenge.

Related Articles
The Ackman-Ziff Real Estate Group, LLC.
Sixth Ave. hotel project seals $70m loan deal.
Corus' suite deal.
Corus Bank finances condo development.
Corus closes condo loan.
Bank's new relationship with condo developer.
AFC's Welcome move.
Capmark Finance arranges $405 million financing.

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |