Benefit Street Partners Provides $48.75M Loan To Stratus Development For Cambria Hotel Austin

The Cambria Hotel located at 68 East Avenue in the Austin market is a 212-room hotel recently opened near Austin's Rainey Street District. The property consists of 16 stories and is designed to cater to guests visiting the area.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $48,750,000
• Lender: Benefit Street Partners Realty
• Landlord: Stratus Development Partners
• Brokers: Adeel Amin & Charlie Ryan - Hunter Hotel Advisors

This financing facilitated by Benefit Street Partners Realty was utilized by Stratus Development Partners to discharge $62 million in construction debt, enabling the continued operation and support of the newly launched hotel property.