$165M Construction Loan Arranged by HFF for W Hotel & Residences in Austin, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $165 million construction loan for the W Hotel & Residences, a luxury mixed-use project in Austin, Texas.

HFF senior managing director Whitaker Johnson (top right photo) worked on behalf of Stratus Properties, Inc. and the Canyon-Johnson Urban Fund to secure the loan through Corus Bank, N.A.

Stratus Properties is a diversified real estate company engaged in the acquisition, development, management and sale of commercial, multifamily and residential real estate properties located primarily in the Austin area.

Due for completion in early 2011, the W Hotel and Residences will have 252 guest rooms and suites.

In addition, approximately 165 residential units, in one- to four-bedroom layouts, will be located on floors 18 to 37 and will feature floor-to-ceiling windows with views of Lady Bird Lake, the Hill Country and the city skyline.

Hotel guests will have access to the W’s signature Living Room experience and Whatever/Whenever, the hotel’s 24-hour concierge service that provides guests with the ultimate in amenities at any hour.

On-site amenities will include several restaurants and clubs, an elevated garden incorporating a swimming pool and bar, 5,000 square feet of meeting space, 4,300 square feet of banquet rooms and an 8,000-square-foot spa and fitness center.

The W Hotel and Residences is located at 2nd Street and Lavaca in downtown Austin’s 2nd Street District.

CONTACTS:

Whitaker M. Johnson, HFF Senior Managing Director, 214 265 0880, wjohnson@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com