 |
| Block 21 Development, 200 Lavaca Street, Downtown Austin’s 2ND Street District, |
 |
| Whitaker Johnson |
DALLAS, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged a $150 million
refinancing for Block 21, a mixed-use development containing the 251-room W
Austin Hotel & Residences, 2,750-seat Austin City Limits Live at The Moody
Theater music and events venue (ACL Live) and almost 60,000 square feet of
Class A office and retail space in downtown Austin, Texas.
HFF worked on behalf of
the borrower, Stratus Properties Inc., to place the 10-year, fixed-rate loan
with Goldman Sachs. Loan proceeds were
used to refinance existing debt.
Block 21 features
panoramic views of Lady Bird Lake (formerly Town Lake), the Texas Hill Country
and downtown Austin, a city known as the “Live Music Capital of the
World.” The property is located at 200 Lavaca Street in downtown Austin’s 2ND
Street District, an urban neighborhood with 225,000 square feet of retail,
restaurants, entertainment venues and residences.
The development is within walking distance to
the lake and its surrounding outdoor and recreational space, Austin City Hall,
the Sixth Street entertainment district and the Austin Convention Center.
Completed in 2010, the
37-story Block 21 is LEED Silver certified in addition to being certified by
the Austin Energy Green Building Program.
 |
| Lady Gaga |
The W Austin Hotel & Residences features
10,500 square feet of meeting space, the AWAY Spa, WIRED business center, WET
outdoor pool and bar, FIT fitness center, rooftop pool and cabanas, TRACE
restaurant and The Living Room lobby bar and cocktail lounge.
The AAA Four Diamond
hotel’s 251 guest rooms include 32 suites in the lower portion of the
tower. Not included in the financing are
the 159 residential condominiums that comprise the upper portion of the
tower.
Block 21 is home to ACL
Live, which functions as a live music venue, high definition production studio
and private events space on the second through fourth floors of the building. The venue floor is 9,600 square feet and can
accommodate general admission of 2,750 people and up to 3,000 for special
events.
 |
| John Bourret |
It’s the site of the
KLRU-TV produced PBS program Austin City Limits, the longest-running music
series in American television history, which has hosted acts like Sting,
Coldplay, Jay-Z, and Lady Gaga and Tony Bennett.
In 2014, the venue was named “Venue of the
Year-Small Capacity” by the Academy of Country Music.
The year ACL Live opened,
it won the 2011 Pollstar Award for “Best New Major Concert Venue”.
Block 21 has 18,327 square feet of ground
floor retail space that is 98.6 percent leased to Urban Outfitters, Starbucks
and Willie’s Roadhouse Sirius XM station, and 39,328 square feet of fully
leased office space.
The HFF team was led by
senior managing director Whitaker
Johnson and managing director John
Bourret.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment