Polsinelli Advises Northwind Group in $77.2M First-Mortgage Loan on Austin Residential Building

Polsinelli recently advised Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, in a $77.2 million first-mortgage condominium inventory loan through its closed-end debt fund. The loan is collateralized by 167 units at Vesper, a recently completed 41-story residential condominium tower located in Austin's Rainey Street District.

Completed in 2024, Vesper was developed through a joint venture between Pearlstone Partners, one of Austin's leading condominium developers, and ATCO, a New York based real estate investment and ownership platform led by the Hemmerdinger Family.

More information on the transaction can be found here.

The deal was led by Polsinelli Real Estate Finance Shareholder John Vavas. Additional support was provided by Real Estate Finance Shareholder Joshua F. Reif, Real Estate Shareholder Michael Shomo, Energy Associate Savanna L. Barlow and Real Estate Finance Associates Monica J. Guzikowski, Blake A. Hamil, Kristin Y. Yu and Ashley R. West.