• Tue. Sep 26th, 2023

    Pearlstone Partners Plans to Add $700 Million Worth of Projects to Austin Portfolio

    ByJames Forsyth

    Sep 19, 2023
    Pearlstone Partners Plans to Add $700 Million Worth of Projects to Austin Portfolio

    Pearlstone Partners, an Austin-based real estate investment firm, has announced its intention to expand its portfolio with three new projects over the next three years. These projects are expected to bring in upwards of $700 million and contribute to the city’s changing skyline and urban living experience.

    Pearlstone Partners, known for its for-sale housing developments near downtown Austin, has already invested about $500 million in two completed residential projects and three others currently under construction. With the addition of these new projects, Pearlstone’s portfolio will reach a total investment of approximately $1.2 billion across eight developments.

    One of the upcoming projects is a luxury residential development with 247 units located at 300 Pressler St., just west of downtown. In addition, there will be a condo development with 247 residential units at 300 Pressler St. and a 215-unit apartment tower called 62 East in the Rainey Street District. Another condo tower, 14th & Lavaca, is planned for one block south of the Texas Chili Parlor.

    CEO and principal of Pearlstone Partners, Robert Lee, expressed the company’s commitment to quality and its vision for crafting living spaces that embody the spirit and lifestyle of Austin. These projects are a testament to their dedication to enriching the dynamic fabric of the city.

    Pearlstone’s current projects under construction include Parkside at Mueller, Vesper, and Montage South Lamar, each offering unique living experiences and amenities. The company is also seeking capital partners for three future projects: Pressler, 62 East, and 14th & Lavaca.

    Pearlstone Partners’ investment in these projects is a significant contribution to the growth and development of the Austin real estate market. With its commitment to quality and innovative design, Pearlstone is poised to shape the future of urban living in the city.

    – Austin American-Statesman
    – Pearlstone Partners’ news release