Hunter Hotel Advisors Arranges Sale of Second Austin Hotel
- Oct 17, 2016
Austin, Texas—StayBridge Suites Austin Northwest has recently changed hands for an undisclosed amount. Seller Excel Hotel Group used representation from Hunter Hotel Advisors’ Los Angeles office. The hotel was acquired by a New York-based opportunity fund.
Located at 13087 Highway 183, the 2009-built hotel is approximately 1.2 miles from the Austin Aquarium and 4 miles from St. Edwards Park. “Austin remains a top-growth market as the city continues to be recognized as a worldwide destination for both leisure and business travelers,” said Danny Givertz, SVP at Hunter Hotel Advisors L.A., in prepared remarks.
The buyer plans to invest more than $1 million for the renovation of the four-story, 80-key hotel. Amenities include an on-site fitness center, heated outdoor pool, complimentary breakfast buffet and on-site guest self-laundry facilities. Free Wi-Fi and parking are also available.
StayBridge Suites Austin Northwest is the second hotel that Hunter’s L.A. division has sold for Excel in Austin in the last month, including the Fairfield Inn & Suites Austin Northwest, built in 2014. Since January 2015, Hunter has sold or financed more than $1.5 billion in single assets and portfolio transactions.
Image courtesy of StayBridge Suites