Barings has handed Domain Tower 2 a fresh $135 million refinancing loan, paying off existing debt on the 24-story office tower at The Domain in northwest Austin and locking in new financing for a building now anchored by major fintech tenants.
According to Commercial Property Executive, Yardi Matrix identifies Barings as the lender on the $135,000,000 refinance for the 332,265-square-foot tower, with the new note taking out earlier financing tied to the asset.
Tenants and building features
Domain Tower 2, at 10025 Alterra Parkway, offers roughly 332,265 rentable square feet spread across 11 office floors, along with an 11,000-square-foot amenity suite that includes a landscaped terrace, conference facilities, a fitness center and a tenant kitchen, per HPI leasing materials. Local teams have overseen leasing and marketing as the owner has brought the property to market.
Stonelake Capital Partners reports that PayPal increased its presence in 2024 to about 151,750 square feet in the tower, while Wise committed to roughly 60,682 square feet. Together, those leases account for a large share of occupancy and have helped solidify the building as a fintech-focused office option in The Domain's South End.
What the refinance signals
Market observers view the Barings loan as one example of capital returning selectively to well-located, well-leased office properties. NNN Triple Net has highlighted the refinancing among recent office financings, while CRE Finance Council data indicate that lenders remain cautious even as new lending opportunities start to surface.
That mix of strong submarket demand and established, high-credit tenants is exactly the profile lenders say they want to see before committing significant new office debt.
What is next for The Domain
Stonelake assembled the Domain South End site more than a decade ago and has described a multi-phase master plan across roughly 33 acres. The company has said that the recent leasing momentum, combined with the $135 million refinance, should give it more flexibility as it evaluates future phases. According to the owner's disclosures, Stonelake has already completed several stages in the South End and still holds entitlement capacity for additional office, multifamily, and hospitality components.
We reached out to Barings, Stonelake, and HPI for comment and will update this story if the lender or ownership group provides additional statements.
