Goldman Sachs and Lincoln Property Company obtained an $83.8 million construction loan, allowing them to join forces on a nearly 900,000-square-foot industrial development called Waterstone in San Marcos. Bank OZK provided the senior portion of the loan, while Affinius Capital originated the subordinate portion.
Affinius Capital’s Tom Burns commented, “This transaction represented a compelling opportunity to provide construction financing for a strategically located industrial complex with excellent connectivity to I-35, providing tenants seamless access to San Antonio and Austin. “
It will span 894,000 square feet and feature 32—to 36-foot clear heights, 185—to 200-foot truck court depths, 192 total dock doors, a mix of rear-load and cross-dock configurations and 994 parking stalls across its four buildings.
Waterstone is planned to break ground in November 2024, with an expected delivery date of February 2026.
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