Investment Overview

Price Reduced from $75 Million to $48.8 Million for a Fast, All-Cash Closing. Highly motivated seller seeking an immediate sale. This exceptional opportunity includes the hotel plus approximately 1.2 million square feet of fully entitled development rights for student housing, affordable housing, or multifamily. The hotel and land have a combined “as-is” appraised value of approximately $90 million, creating a significant opportunity to acquire the asset well below appraised value. The existing hotel is currently undergoing an extensive renovation and repositioning into a lifestyle-driven Delta by Marriott hotel concept, including a unique daytime pool club experience inspired by Las Vegas-style hospitality activation concepts. In addition to the hotel repositioning, ownership successfully obtained CH-PDA zoning approvals allowing approximately 1.378 million square feet of zoning floor area with a 200-foot height allowance. After accounting for the hotel footprint, approximately 1.196 million square feet of remaining development capacity exists for multifamily, student housing, retail, entertainment, hospitality, and mixed-use uses. This opportunity offers investors and developers the ability to acquire: A newly renovated Marriott-branded hotel • Significant entitled multifamily development density • Prime Austin freeway frontage and visibility • Strong surrounding demand generators • Exceptional long-term appreciation potential • Multiple exit strategies and phased development opportunities