AUSTIN, Texas– Kairoi Residential, Lincoln Property Company, and DivcoWest have finalized a joint venture to develop the 6xGuadalupe mixed-use tower in downtown Austin, Texas.
Both Lincoln Property Company and Kairoi have extensive experience owning and developing in downtown Austin, and San Francisco-based DivcoWest has a long history in the marketplace and is known for its long-standing relationships with technology tenants.
Mobilization for construction commencement has begun and the official demolition of the existing Extended Stay hotel was set for Oct. 29.
KAIROI RESIDENTIAL is a partner-led company with a unified approach to investing, developing and managing multifamily communities. Kairoi has been involved in the business of developing and owning multifamily properties since 2002. The company has developed or owned in excess of 27,000 units in many cities and states across the country. Kairoi Residential has developed approximately $1.6 billion in new developments in San Antonio, Dallas, Chicago, Denver, Houston, Miami, and Austin.
Development and construction has been Lincoln Property Company’s core business for over 50 years. Founded in Dallas, Texas, in 1965, Lincoln Property Company (LPC) currently maintains offices in 450 cities in the United States and Europe and is nationally recognized for its full-service, vertically integrated institutional investment and property management platform.
Since 1965, Lincoln has acquired and developed approximately $49 billion of commercial and residential property and currently owns and manages approximately $76 billion of real estate. Lincoln has developed over 75 million square feet of commercial office space, over nine million square feet of specialty retail space, 49 million square feet of industrial space, and over 212,000 multi-family residential units. Lincoln is consistently listed as one of the largest mixed-use developers in the United States.