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Austin Ridge Bible Church to spend $55 Million to occupy 99,433 square feet of space in Dripping Springs Texas.

Dripping Springs, Texas — According to state and local development sources, Austin Ridge Bible Church plans to invest $55 Million to build out 99,433 square feet of new space in Dripping Springs. The company plans…

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A growing Central Texas suburb will soon be the home of a new, massive tourist destination. Cedar Park, a city in Williamson County about 20 miles north of Austin, is getting a $95 million Marriott Hotel and Convention Center. The Cedar Park Marriott Hotel and Convention Center will be a new construction at 2155 Cedarview Drive, in Cedar Park. This landmark development will include a cutting-edge hotel with approximately 300 guest rooms, 30,000 square feet of event and meeting space, a full-service restaurant, a breakfast café, and an expansive pool area. Poised to become a focal point of Cedarview, this project will serve as a premier destination for both business and leisure travelers.

Construction on the new hotel and convention center began this May and is expected to end by February 2027. Cedar Park Marriott will be a 210,965-square-foot hotel with seven stories and 297 guest rooms connected to a 50,797-square-foot conference center. There will also be a 120,445-square-foot, three-story parking garage connected to the hotel to fit 320 slots. The project's entire construction site will cover 382,207 square feet.

Project developer Great Lakes Capital said that the hotel will also have "a full-service restaurant, a breakfast café, and an expansive pool area." This new Marriott will become one of Cedar Park’s only full-service hotels, meaning it can accommodate guests seeking on-site dining, recreation and concierge services. Great Lakes Capital is a real estate development and private equity firm uniquely positioned to add value to real estate investments through development, redevelopment and opportunistic investment across the real estate spectrum and throughout the capital structure. Headquartered in South Bend, Indiana, with over $1 billion in assets under management or development, GLC concentrates on several core asset classes, including mixed-use, multifamily, industrial, medical office and other similar conforming product types. As a market leader in new development, GLC actively addresses the needs of tenant partners in addition to speculative development meeting needs the market has not yet reacted to. Luminaut in Cincinnati is listed as the design firm on the project.

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Acrisure has announced it has entered into a definitive agreement for the issuance of new convertible senior preferred stock in a $2.1 billion capital raise led by Bain Capital. Funds from the round will be used to refinance a portion of its existing non-convertible preferred stock, pursue strategic accretive M&A and accelerate its development as a tech-enabled financial services platform, advancing its strategy to become the preeminent fintech solutions provider for millions of small- and medium-sized businesses domestically and abroad. The investors involved in the transaction include Bain Capital Special Situations, Fidelity Management & Research Company, Apollo Funds, Gallatin Point Capital, BDT & MSD Partners, and a consortium of other investors. No existing investor exited as part of this transaction. BDT & MSD remains the largest minority shareholder in Acrisure through affiliated funds.

In a statement Greg Williams, Chairman, CEO and Co-founder of Acrisure said, “This transaction represents a significant milestone and serves as proof that our vision for Acrisure’s scaled platform has become a reality.” “Our evolution from an insurance brokerage into an AI- and technology-powered global financial services provider has opened the door to massive opportunity. I see limitless potential for how far Acrisure can go, and we’re extremely grateful for the financial support and validation from our investors.”

Going forward, Acrisure will continue to expand its footprint and product offerings through strategic, accretive M&A, fully integrating the platform created through its previous 900 acquisitions, and driving organic growth with its robust suite of tailored offerings, which now includes real estate services, cybersecurity tools, payroll and payment processing, and retirement and wealth solutions. Acrisure’s unprecedented growth has driven the company’s valuation to $32 Billion, marking a nearly 40% increase since its last institutional capital raise just three years ago. A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries.

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