Texas' tallest tower completes construction two months ahead of schedule. Aug 31, 2026, 09:01 ET More than 6,800 skilled workers and 150 trade partners helped DPR Construction build Austin's 74-story Waterline, "a city within a city" that combines five distinct uses and integrates with the downtown environment AUSTIN, Texas, Aug. 31, 2026 /PRNewswire/ - DPR Construction, a forward-thinking, self-performing builder, announced construction completion of Waterline, the 74-story mixed-use tower at 98 Red River Street. The tower rises 1,025 feet above downtown Austin and stands as the tallest building in Texas. Construction wrapped up in 48 months, two months ahead of a 50-month planned schedule. Spanning 2.7 million square feet with a footprint of more than three acres, the tower integrates residential, hotel, office, retail and parking into a single vertical destination - what one partner described as "a city within a city." It also creates a vibrant new ground-level connection to Waterloo Greenway's 13-acre Confluence, which opened in June. "Waterline pushed every assumption about scale, complexity and coordination," said DPR Project Executive Brett Bickford. "This was a massive undertaking, and we wouldn't be where we are today without our talented and resilient team of skilled craft professionals and trade partners." Bickford noted that DPR's dedicated self-perform team was what made delivery ahead of schedule possible. This allowed the project team to manage critical scopes with their own workforce, providing greater control over quality and schedule, which led to more predictable outcomes. "This monumental and highly complex project reflects what's possible when an extraordinary team aligns around a shared vision and never loses focus on execution," said Seth Johnston, Executive Vice President of Lincoln Property Company, which co-developed the project with Kairoi Residential. Construction involved more than 150 trade partners and 6,800 skilled workers, who recorded approximately 4.5 million worker hours. Roughly 1,000 workers were onsite during peak activity. The DPR team also placed approximately 150,000 cubic yards of concrete - enough to fill 46 Olympic-sized swimming pools - including building more than 92 individual sculptural columns (15 installed on the roof). "Delivering a project of this size, scale, and technical complexity requires trust, collaboration, resilience, and relentless commitment. And to get it done ahead of schedule is almost unheard of," said Bryan Kent, DPR's Central Texas Business Unit Leader. "Thousands of people helped bring Waterline to life, and their contributions have shaped Austin's skyline and strengthened how people experience and connect with our city. DPR is proud and thankful to have been part of it." KEY PARTNERS: Development Partners: Lincoln Property Company and Kairoi Residential Design Architect: KPF Architect of Record: HKS, Inc. Structural Engineer: Brockette Davis Drake, Inc. (BDD) MEPF Engineer: Alvine & Associates, Inc. WATERLINE BY THE NUMBERS Height: 1,025 feet Floors: 74 Size: 2.7+ million square feet Footprint: 3+ acres Completion: July 2026 (Delivered in 48 months, 2 months ahead of schedule) Concrete: 150,000+ cubic yards placed Worker hours: 4.5+ million Workforce impact: Approximately 6,800 workers overall Peak onsite workforce: Approximately 1,000 workers at peak Trade partners: Approximately 150 Individual sculptural columns: 92 (15 on the roof) Residential units: Top 33 floors, 352 units Hotel: 13 floors, 252 rooms Office space: 24 floors, 703,000 square feet, Class AA offices Dining & retail: 24,000 square feet Elevators: 30 About DPR Construction DPR Construction is a forward-thinking, self-performing general contractor and construction manager specializing in complex projects across the advanced technology, life sciences, healthcare, higher education, and commercial markets. Guided by our purpose - We Exist to Build Great Things(R)- DPR's global portfolio spans large-scale new construction, tenant improvements and special projects. Founded in 1990, DPR is one of the largest privately held, employee-owned companies in the US. We are strategically focused on building long-term partnerships and delivering more predictable outcomes for customers. We're advancing the industry by integrating the project lifecycle from design to delivery using innovative construction methods, prefabrication on more than 90% of new work, and a highly skilled craft workforce deployed on nearly all of our projects. DPR consistently ranks among the top building contractors and employs more than 13,500 professionals across our family of companies worldwide. For more information, visit www.dpr.com. About Lincoln Property Company Lincoln Property Company ("Lincoln") is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, sports and entertainment, and mixed-use properties, throughout the United States, the United Kingdom, and Europe. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit: www.lpc.com. About Kairoi Kairoi Residential is a partner-led company with a unified approach to investing, developing and managing multifamily communities. Kairoi has been involved in the business of developing and owning multifamily properties since 2002. Over the course of our existence, we have developed or owned in excess of 57,000 units in many cities and states across the country. Kairoi Residential has developed approximately $2.5B in new developments in San Antonio, Dallas, Chicago, Denver, Houston, Miami, Charlotte, and Austin. DPR Construction John Daigre [email protected] 925-788-1615 SOURCE DPR Construction

Kairoi Residential, PGIM, and Helaba Bank have broken ground on their ultra-luxury mid-rise development in Denver's Lower Highlands (LoHi) neighborhood. Provided by PR Newswire Aug 3, 2026, 4:45:00 PM Kairoi Residential, PGIM, and Helaba Bank have broken ground on their ultra-luxury mid-rise development in Denver's Lower Highlands (LoHi) neighborhood. PR Newswire DENVER, Aug. 3, 2026. DENVER, Aug. 3, 2026 /PRNewswire/ - San Antonio-based Kairoi Residential, in partnership with PGIM and Helaba Bank, has broken ground on an ultra-luxury Class A multifamily development in Denver's vibrant Lower Highlands ("LoHi") neighborhood. "We are thrilled to break ground on this transformative project in the LoHi neighborhood," said Tyler Sibley, Principal of Kairoi Development. "This project is the culmination of nearly a decade of dedicated pursuit and extensive planning with an exceptional team of design and construction professionals. Our vision is to deliver one of the highest-quality multifamily communities in the country featuring thoughtfully crafted residences, a best-in-class amenity package and seamless connectivity to all that the LoHi neighborhood and Denver metro area has to offer." Per Helaba, "This financing underlines Helaba's commitment to high quality residential real estate in strong urban markets and to projects that create modern rental housing and vibrant communities. In a market environment that remains challenging and selective, Helaba continues to focus on resilient assets and experienced partners with strong track records in development and asset management. Kairoi and PGIM embody these qualities, and this transaction reflects our strategy of disciplined new business." Located off Speer Boulevard and Zuni Street, the development will feature 420 upscale apartment homes consisting of studio, one-, two- and three-bedroom residential units. Tailored amenities include a sky pool deck with sweeping views of downtown Denver, dedicated men's and women's health and wellness spas, a 24-hour fitness center, work from home spaces, state-of-the-art golf and ski simulators, multiple sky lounges, and expansive outdoor social spaces. "This development reflects our strong conviction around high-quality rental housing in markets supported by durable demand and long-term growth," said Soultana Reigle, head of U.S. equity for PGIM's Real Estate investment group. "Denver's LoHi neighborhood combines walkability with access to employment, and our partnership with Kairoi and Helaba Bank allows us to deliver a differentiated residential community while investing with discipline and selectivity on behalf of our investors." ABOUT KAIROI KAIROI RESIDENTIAL is a partner-led company with a unified approach to investing, developing and managing multifamily communities. Kairoi has been involved in the business of developing and owning multifamily properties since 2002. Over the course of our existence, we have developed or owned in excess of 57,000 units in many cities and states across the country. Kairoi Residential has developed approximately $2.5B in new developments in San Antonio, Dallas, Chicago, Denver, Houston, Miami, Charlotte, and Austin. For more information, please visit: www.kairoi.com ABOUT PGIM PGIM Real Estate PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.4 trillion in assets under management.1 PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions, including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information, visit pgim.com. Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com. 1 As of Mar. 31, 2026. ABOUT HELABA Helaba Helaba (Landesbank Hessen-Thüringen) is one of Germany's leading commercial banks, serving as both a central clearing institution for regional savings banks and a development bank for the states of Hesse and Thuringia. Headquartered in Frankfurt and Erfurt, the bank manages approximately €201.8 billion in total assets and employs around 6,000 people worldwide. Helaba provides a broad range of financial services, with a particular focus on corporate banking, real estate finance, and public-sector lending. The bank also maintains an international presence through key offices in major financial centers, including London, Paris, New York, and Shanghai. For more information visit www.helaba.com View original content to download multimedia:https://www.prnewswire.com/news-releases/kairoi-residential-pgim-and-helaba-bank-have-broken-ground-on-their-ultra-luxury-mid-rise-development-in-denvers-lower-highlands-lohi-neighborhood-302840246.html SOURCE Kairoi Residential The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar. Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees. 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