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Business & Finance

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.

About HFF

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.

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.