Waller Creek Development

Austin, TX
Mixed Use
1,532,544 SF

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0% FEE
Now offering no upfront fees through June 30th.*

Risk Profile



Kairoi Residential & Lincoln Property

Date Aquired

Nov 2021

Total Equity


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$50,000 minimum investment
Certain details on this page have been supplied by the investment sponsor and/or sourced from third party sources. Please review the investment memorandum for specific sourcing information.


The Waller Creek Development is an opportunity to invest in a curated asset sourced through the Cadre network that is underwritten and co-managed by our repeat, institutional sponsor Kairoi. Waller Creek Development is a ground-up development of a core urban mixed-use property comprising 686k square feet of office space, 352 luxury apartments, 251 hotel guestrooms in Austin, TX.

Key Investment Highlights

Irreplaceable Core Urban Mixed-Use Property

Waller Creek is a build-to-core investment that will benefit from stable cash flow driven by a diverse set of revenues upon its completion. This iconic project will be one of the most desirable hotels, apartments, and office buildings in Austin.

The design, quality, and thoughtfulness with its array of top-tier amenity offerings present Austin’s newest, most-sophisticated lifestyle destination, defined by polished comfort, impeccable service, and a contemporary form of luxury. Upon completion, the Project will offer a critical mass of the highest quality, state-of-the-art office space augmented by an unparalleled amenity package.

Repeat Sponsorship with Proven Track Record

Kairoi Residential is a premier,1 vertically integrated, multifamily investment, development, and property management company that has transacted on $6.3 billion across 60,000 multifamily units since 2003.

Lincoln Property Company (“LPC”) is a dynamic real estate firm that offers a wide range of value-added services for its clients including asset and property management, construction management and build-to-suit services, investments / acquisitions, and landlord representation.

Cadre successfully partnered with Kairoi on two capital-intensive multifamily development projects in Dallas, TX.

Nation-Leading Demographic Trends

Austin is the best performing job market in the country driven by continued growth in the tech sector and in-migration of companies and individuals attracted to Texas. Dubbed “Silicon Hills,” Austin is one of the nation’s preeminent locations for technology, with more than 160,000 tech employees at 7,700+ high-tech companies including Apple, Facebook, Amazon, AMD, Dell, Oracle, IBM, and others. The Austin market has a confluence of conditions that foster continued growth including leading research institutions, growth capital, public companies, innovative startups, and intellectual capital.

See the investment memorandum for additional detail and sources.

High Growth & Strong Economic Market

Austin is one of the nation’s fastest growing and strongest markets for both population and job growth, driven by its attractive quality of life at a low cost of living, and low cost of doing business. This project benefits from a prime location in the Rainey district and is directly accessible via the Butler Hike and Bike Trail, connecting the site to downtown Austin and the historic Lady Bird Lake - the epitome of the Austin lifestyle with abundant recreation opportunities.

See the investment memorandum for additional detail and sources.

  • Highly-Walkable, Amenity-Rich Austin Location: Profiled by its high-energy and unprecedented walkability, Austin is recognized as one of the most vibrant and amenity-rich cities in the United States. The Rainey district has shifted the center of gravity of downtown Austin with its world-class restaurants, energetic nightlife destinations, premier retailers, and innovative concept stores. Positioned in the heart of the Rainey district along Waller Creek, residents, guests, and tenants of Waller Creek are uniquely positioned with immediate access to everything the city has to offer. Importantly, the project is directly accessible via the Butler Hike and Bike Trail, connecting the site to downtown Austin and the historic Lady Bird Lake - the epitome of the Austin lifestyle with abundant recreation opportunities.
  • Market Defining Amenities and Facilities: With an amenity set that separates Waller Creek from its competition, residents, guests, and office tenants will have a package of state-of-the-art facilities, spanning from entertainment to health and wellness, at their fingertips. Residents, guests, and tenants will have access to 63,768 square-feet of outdoor amenity space including fitness, restaurant, food, and lounge options—the largest outdoor deck space to be developed in Austin. In addition, the Project will include over 100,000 square-feet in total amenity space complete with a best-in-class fitness center with a yoga room and spin studio, conference and indoor meeting space, 4,800 square foot ballroom, a 4,200 square foot spa, banquet rooms, and ample adjacent outdoor meeting and event space. Importantly, each component has dedicated amenity packages exclusive to their respective floors, amplifying the sense of privacy within the tower.
  • Sustainable Luxury Hotel: Managed by 1 Hotel, the hotel is positioned to be the premier choice of stay for visitors of Austin seeking extravagance with immediate access to the city’s most vibrant attributes— music, film, art, and food—and the ability to enjoy best-in-class service, an unrivaled amenity package, and a sustainable expression of luxury. With first class services provided by 1 Hotel, the property benefits from the impeccable franchise that offers a luxury, sustainable hotel experience inspired by nature.
  • Modern Luxury Apartment: Designed with a blend of sophistication, simplicity, and relaxed luxury, the Waller Creek Apartments offer a transformative choice of living with spacious, open-concept floorplans, state-of-the-art appliances, and breathtaking views. These units are all uniquely designed to entertain with incredible landscaped terraces and unparalleled city and lake views, offering a unique setting that cannot be found elsewhere.

Business Plan

The Sponsor expects to break ground in Q2 2022 with a phased delivery schedule. Expected delivery for the office, retail, and multifamily portion is Q1 2026, the hotel will be delivered Q4 2026, with final completion of the project shortly after. The Sponsor underwrites the Asset achieving full stabilization for all portions between Q3 2027 and Q4 2028. 2


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Waller Creek Development

Development Cost


Total Equity


Underwritten Hold Period

10 years

Deal Details
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