HFF Announces Sale of Dual-Branded Downtown Austin Hotel
DALLAS, TX. August 16, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the closing of the sale of the Hotel Indigo Austin Downtown – University and Holiday Inn Express Austin Downtown University, a 305-room, dual-branded hotel located in downtown Austin, Texas.
The HFF team marketed the property on behalf of the seller, Journeyman Group. Nimes Real Estate purchased the property unencumbered of an existing management agreement.
Completed in 2016, the hotel comprises the 134-room, full-service Hotel Indigo Austin Downtown – University and the 171-room, select-service Holiday Inn Express Austin Downtown University. Shared amenities include a large outdoor pool, pool bar and lounge and five levels of underground parking. The Hotel Indigo houses the Red River Tavern, 2,830 square feet of meeting space, with the Holiday Inn Express featuring a fitness center, business center, a 310-square-foot meeting room and complimentary breakfast. Situated on .81 acres at 805 Neches Street and 810 Red River Street, the hotel is in Austin’s Red River Cultural District at the corner of Red River and 9th Streets. The hotel is within five blocks of the University of Texas at Austin, Texas State Capital, medical district, Sixth Street entertainment district and the Austin Convention Center.
The HFF investment sales team representing the seller included managing director John Bourret and director Austin Brooks.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
About Journeyman Group
Headquartered in Austin, Texas, Journeyman Group is a recognized expert in real estate development and construction of quality properties in a variety of settings. Journeyman’s vast experience includes hotels, multi-family, senior living and mixed-use developments. For more information, please visit journeymangroup.com.
About Nimes Real Estate
Nimes Real Estate, whose regional headquarters is located in Austin, is the real estate investment arm of Nimes Capital, a family office investment firm focused on investments in real estate and private operating companies. Led by David Nazarian, the Nimes Real Estate team has over 20 years of experience investing in commercial real estate, including thousands of multi-family units, two million square feet of industrial, and several thousand hotel keys in more than twenty hotels. For more information, visit nimescapital.com/real-estate.html.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.