Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Hospitality  | 

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.


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Connect

Inside The Story

Read More at HFFConnect with Journeyman GroupConnect with Nimes Capital

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Sale/Acquisition