Journeyman Group Sells Dual-Branded Hotel

Developer Journeyman Group sold the dual-branded Hotel Indigo Austin Downtown-University and Holiday Inn Express Austin Downtown University to Nimes Real Estate. The 134-room Hotel Indigo and 171-key select-service Holiday Inn Express are situated on .81 acres at 805 Neches St. and 810 River St. in Austin’s Red River Cultural District.

The HFF investment sales team representing the seller included John Bourret and Austin Brooks. The sales price was undisclosed, with the assessed value at $26.9 million.

Both hotels delivered in 2016. Shared amenities include an outdoor pool and pool bar, and five levels of underground parking. The Hotel Indigo houses the Red River Tavern and 2,830 square feet of meeting space. The Holiday Inn Express has a fitness center, business center and a 310-square-foot meeting room.

For comments, questions or concerns, please contact Amy Sorter