Austin business briefs: Cbanc acquisition, new Penn Field project

Austin's Cbanc acquires Austin software maker

Cbanc, an Austin tech company that operates an online network for bank and credit union professionals, has acquired Austin-based software maker Lendwell.

Financial terms of the deal were not released.

Founded in 2011, Cbanc's site is used by members to find industry expertise, assist each other with regulatory compliance issues and share information on technology purchases.

Lendwell makes software for the mortgage settlement industry. Its products, used by small and medium-sized banks and credit unions, are primarily focused on refinances and second mortgages, home equity loans and home equity lines of credit.

"Our acquisition of Lendwell is the next step in our strategy of unlocking the power of cooperation and the collective purchasing power of thousands of financial institutions within the Cbanc Network," Bryan Koontz, CEO of Cbanc, said in a written statement.

Lendwell founders Gabe Flores and Mike DeBonis will join the Cbanc staff.

Work starts on new Penn Field project

Construction has started on a new office building at Penn Field, a 16-acre mixed-use development in South Austin on a former air base site.

The developer, Los Angeles-based CIM Group, said the two-story, 44,000-square-foot office building is expected to open in early 2020 at Penn Field, 3601 South Congress Ave. The project's cost was not disclosed.

The building could accommodate a single user, or two single-floor tenants of about 21,000 square feet each, CIM said.

The new building is the first "ground up" development at Penn Field. The 11 buildings currently on the site have been renovations using shells of existing buildings, CIM said.

The building will have floor-to-ceiling windows, terraces and outdoor patios. Its design will complement the repurposed warehouses and industrial buildings at Penn Field, CIM said. The site formerly housed a U.S. Army air base originally developed in 1918, but over time has been been transformed into a 183,855-square-foot campus with office, restaurant and warehouse space.

Austin Regional Clinic moves into new HQ

As it prepares for more growth, medical group Austin Regional Clinic has moved into a new headquarters facility, consolidating its administrative operations.

The new headquarters at 6210 E. U.S. 290 was previously home to Texas Mutual Insurance Company. Austin Regional Clinic will have about 450 employees on the site, which consolidates administrative and supply offices that were previously in three locations, according to Austin Regional Clinic.

“Every city around Austin has experienced a population boom and with this growth comes a need for quality medical care close to home. It’s what people deserve,” Austin Regional Clinic CEO Anas Daghestani said in a written statement.  “We’re excited at how far we’ve come — and look forward to improving access to care in Central Texas.”

Founded by three doctors in 1980, Austin Regional Clinic now has 25 locations in 10 Central Texas cities

Nominations open for Austin business awards

The Greater Austin Chamber of Commerce is now accepting nominations for the 19th annual Greater Austin Business Awards.

Companies can be nominated in 12 categories. Winners will be selected by an independent panel of judges.

Winners will be honored at Greater Austin Business Awards event on Aug. 21. More information is available on the chamber's website at https://members.austinchamber.com/events.