ACRES Provides $47.5 Million for a Mixed-use Property in Austin, TX
JANUARY 29, 2026Loan to fund a mid-rise mixed-use building in Texas.
Austin, TX (2026) – ACRES Capital Corp. (together with its affiliates, “ACRES”) announced today that it has provided a $47.5 million first mortgage loan to finance Ave Austin North Lamara, a 226‑unit, Class A mixed‑use/multifamily community located at 7400 North Lamar Boulevard in Austin, Texas (the “Property”).
The Property features a mix of traditional market‑rate apartments and 88 flexible‑stay furnished units leased primarily to corporate and extended‑stay users at a premium. Residents benefit from a robust suite of resort‑style amenities, including a fitness center, swimming pool, rooftop lounge, resident and cyber lounges, conference room, dog spa, outdoor courtyards with fire pits, package room, EV charging, and an on‑site parking garage providing approximately 315 spaces (about 1.4 spaces per unit). Unit finishes include stainless steel appliances, quartz or granite countertops, subway tile backsplashes, shaker‑style cabinetry with under‑cabinet lighting, Nest thermostats, in‑unit washer/dryers, and select features such as balconies, kitchen islands, and walk‑in showers.
“ACRES is pleased to support a high‑quality, well‑located community in one of the nation’s most dynamic growth markets, alongside an experienced sponsor,” said Mark Fogel, Chief Executive Officer and President of ACRES. “AVE Austin North Lamar’s blend of traditional apartments and flexible‑stay furnished suites positions the Property to serve both long‑term residents and extended‑stay corporate renters, capturing strong demand drivers across the North Austin corridor.”
