Sunrise Realty Trust, Inc. announced on December 13, 2024, a commitment of $32.0 million to a $57.0 million senior loan. This loan is for the refinancing of The Loren at Lady Bird Lake, a luxury hotel located in Austin, Texas.
The company funded $29.9 million of its commitment at the closing of the transaction. The overall loan was originated by an affiliate on the TCG Real Estate platform, with the remaining $25.0 million held by an affiliate.
The Loren is a 108-key boutique luxury hotel and mixed-use project developed by The Loren Group. This investment diversifies SUNS's portfolio into the hospitality sector within Austin, a growing economy fueled by technology, finance, and tourism.
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