AUSTIN (Austin Business Journal) — Stratus Properties Inc. announced Dec. 9 that it has agreed to sell the site of the W Austin Hotel and Austin City Limits theater to a Nashville company.
Ryman Hospitality Properties Inc. will pay $275 million, according to the announcement. That includes Ryman’s assumption of about $142 million of mortgage debt. The remainder of the purchase price will be paid in cash.
The site is known in Austin circles as Block 21. The hotel has 251 rooms and is home to Austin City Limits Live at the Moody Theater, a 2,750-seat entertainment venue that serves as the location for the filming of the Austin City Limits television series. Block 21 also includes class A office space, spots for retailers and the 3TEN at ACL Live entertainment venue and business.
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