Weekend Roundup: 🏗️ $131.6M in SBA Loans & Baldridge's Bold Studio Makeover 🌆

Here’s what you need to know about CenTex CRE Today:

• Austin's SBA 504 Loans Fund $131.6M in Projects, Boosting Construction🏗️

• Baldridge Architects Revitalizes 60s Complex into Trendy Austin Studio Space 🌆

Finance and Lending in Austin

SBA 504 third-party lenders in the Austin area

Source: ABJ (Austin Business Journal)

Summary: The ABJ 2023 list of SBA 504 third-party lenders focuses on banks in the Austin-area that fund a portion of SBA-backed loans. These lenders, in collaboration with CDCs, have funded 35 projects, totaling $131.6 million between Oct. 1, 2022 to Sept. 30, 2023. The 504 loans, usually used for construction, commercial real estate and other large asset investments, can reach a maximum amount of $5 million.

Why this matters: Understanding the landscape of SBA 504 third-party lenders in the Austin area can help commercial real estate professionals identify potential funding sources for their projects, enhancing their ability to serve clients and make strategic decisions.

Architecture and Commercial Development in Austin

Baldridge Architects converts Austin commercial units into its own studio

Source: Dezeen

Summary: Baldridge Architects, an Austin-based firm, has transformed a neglected 1960s commercial complex on Burnet Road into its new office space through adaptive reuse. The complex, which had served a variety of functions over the years, now hosts the architectural studio and leasable office space for two design-related tenants. The renovation has incorporated premium materials, energy-efficient glass, and high-quality lighting to create a spacious and aesthetically pleasing environment.

Why this matters: The adaptive reuse concept demonstrated by Baldridge Architects in this project is a rising trend in commercial real estate in Central Texas, offering professionals an opportunity to repurpose underutilized properties into valuable assets, thus aiding in urban revitalization and offering clients innovative investment opportunities.