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Texas  + Austin  + Retail  | 

Block 21 Closing Sale is Pushed Back to Possible May Date

Austin-based Stratus Properties Inc. and Ryman Hospitality Properties, based in Nashville, TN, announced that the anticipated closing date for the previously announced sale of Block 21 by Stratus to Ryman has been extended.

As of now, both parties are completing the process of obtaining the remaining required approvals of the assumption of the property’s existing mortgage loan by the purchaser. The acquisition is now expected to close sometime prior to June 1, 2022.

Block 21 is Stratus’ wholly owned mixed-use real estate development and entertainment business comprising the 251-room W Austin Hotel and Austin City Limits Live at the Moody Theater, a 2,750-seat entertainment venue that serves as the location for the filming of Austin City Limits. Block 21 also includes Class A office space, retail space, and the 3TEN ACL Live entertainment venue and business, which has a capacity of approximately 350 people. Stratus completed the development of Block 21 in 2010.

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Stratus PropertiesRyman Hospitality Properties

About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

  • ◦Sale/Acquisition