Canyon Ranch to Open Austin Wellness Facility

VICI Properties Inc. (NYSE: VICI), a real estate investment trust has entered into a loan facility for up to $200 million to fund the development of Canyon Ranch’s newest wellness-resort offering, Canyon Ranch Austin in Austin.

Canyon Ranch is a pioneer in the wellness space with the mission to inspire a well way of life through integrative wellness guidance from world-class experts across a broad range of disciplines. The transaction enhances VICI’s growth pipeline with a call right to acquire the real estate of Canyon Ranch Austin upon stabilization and a purchase option for the real estate of Canyon Ranch Tucson in Tucson (shown), Arizona and Canyon Ranch Lenox in Lenox, Massachusetts should Canyon Ranch elect to sell the real estate of either property. If the call right or purchase options are exercised, Canyon Ranch would continue to operate the wellness resorts subject to a long-term triple net lease with VICI.

Canyon Ranch Austin is expected to begin welcoming guests as the fourth all-inclusive wellness resort in the Canyon Ranch portfolio in 2025.