AUSTIN, Jan. 13, 2026 –  JLL Capital Markets announced today that it has secured financing to recapitalize the existing construction loan for The Modern Austin Residences, a premier luxury high-rise condominium development in downtown Austin, Texas.

JLL represented the borrower, Urbanspace Development, in securing financing for the 319-unit mixed-use project through a joint venture between Peregren Capital Group and Koch Real Estate Investments (KREI) in coordination with senior-note-on-note financing from Axos Bank.

Completed in 2025, The Modern Austin Residences rises 56 stories and features 319 luxury condominiums ranging from one-bedroom units to five-bedroom penthouses with floor plans spanning 600 to over 6,000 square feet. Interiors, designed by the Urbanspace Design Studio, features floor-to-ceiling glass, panoramic views of Lady Bird Lake and the Austin skyline, and private terraces. Amenities are conceived as a private members’ club, offering residents a 25-meter heated pool, fitness studios, private dining rooms and a 35th-floor speakeasy. The design architect was Nelsen Parners, with Page serving as the architect of record and Flintco as general contractor.

Located at 610 Davis St. in Austin’s highly sought-after Rainey Street District, The Modern offers residents immediate access to some of the city’s most celebrated dining, nightlife and outdoor destinations, including Lady Bird Lake, the Butler Hike-and-Bike Trail and the nearby Waterloo Greenway. The property benefits from exceptional connectivity to major thoroughfares and is situated approximately 10 miles from Austin-Bergstrom International Airport. The historic Rainey Street District has evolved into one of Austin's premier urban destinations for entertainment and luxury living.

Austin continues to demonstrate strong population and economic growth, reinforcing its position as one of the nation’s most dynamic metropolitan markets. Anchored by a diverse economy that includes technology, government and the University of Texas, the city attracts a highly educated workforce and sustained job creation. The Rainey Street District, in particular, has evolved from a historic residential enclave into one of Austin’s premier urban destinations for living, entertainment and dining. With a Walk Score of 93, the location offers exceptional urban accessibility and a highly desirable lock-and-leave lifestyle.

The development includes ground-floor hospitality space designed as a coffee shop by day and upscale cocktail lounge by night, scheduled to open in Q1 2026, plus fully built-out lower-level retail space available for lease.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Doug Opalka and Director Scott Dickey.

"This successful refinancing demonstrates the continued strength and investor confidence in Austin's luxury residential market," said Opalka. "The Modern Austin Residences' prime location in the Rainey Street District and exceptional design position it as a premier residential destination in one of the nation's most dynamic urban markets."

“Peregren is very excited to continue being a part of this amazing mixed-use development. The Modern is truly a one-of-a-kind building that stands out with respect to quality and amenities in the ever-evolving Rainey Street district,” Tucker Hughes of Peregren commented. “The Peregren principals have financed several of the downtown Austin condo towers (often in collaboration with Urbanspace) and this is the highest quality tower Austin has ever seen. If you haven’t seen The Modern or the “New Rainey”, it’s worth a trip.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Founded in 2000, Urbanspace was created from Kevin Burns’ passion for urban living in Austin. As the city’s original urban-core real estate service provider, Urbanspace pioneered a turn-key approach to downtown living and development. Today, Urbanspace offers an integrated platform that includes residential and commercial brokerage, condominium development and marketing, interior design, a furniture showroom, white-glove moving services, and hospitality concepts. Leveraging deep local expertise and international design acumen, Urbanspace has helped shape Austin’s urban core for more than two decades. For more information, visit urbanspacelifestyle.com.

Founded by Tucker Hughes and Tripp Taylor, Peregren Capital Group is an institutionally backed real estate credit investment firm focused on the Western, Central, and Southern United States. Peregren invests across a variety of real estate credit strategies, including senior and mezzanine loans, note purchases, & preferred equity. Peregren is headquartered in Austin, TX. For more information, visit peregren.com.

Koch Real Estate Investments (KREI), based in Dallas, Texas, focuses on attractive risk-adjusted capital deployment into real estate assets and operating companies across products, geographies, and capital positions. KREI has an acute focus on best-in-class management teams and flexible capital solutions that align interests to drive mutual benefit with its partners. KREI is a subsidiary of Koch, Inc., one of America's largest private companies, which owns a diverse group of companies and is based in Wichita, Kansas. Since 2003, Koch companies have invested more than $190 billion in growth and improvements. With a presence in more than 50 countries, Koch companies employ about 120,000 people worldwide, with nearly half of those in the United States. For more news and information, visit www.kochinc.com.

Axos Financial, Inc., with approximately $27.4 billion in consolidated assets as of September 30, 2025, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $43.0 billion of assets under custody and/or administration as of September 30, 2025, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.’s common stock is listed on the NYSE under the symbol “AX” and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index, among other indices. For more information on Axos Financial, Inc., please visit http://investors.axosfinancial.com.