Stonehill Provides $61.8M Construction Loan For Austin Hotel By Stratus Development Partners

An Austin hotel located at 7800 E Ben White Blvd has secured a construction loan of $61,800,000. The three-year loan was obtained from Stonehill, with Doug Pace serving as the lender's representative. The hotel, with a total of 212 keys, is owned by Stratus Development Partners, represented by Andrew Wood.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $61,800,000
• Address: 7800 E Ben White Blvd
• Market: Austin
• Loan Type: Construction
• Loan Term: Three years
• Key Count: 212

Doug Pace from Stonehill facilitated the loan for the hotel, while Andrew Wood represented Stratus Development Partners as the landlord. The construction loan will enable the development of the hotel property on E Ben White Blvd in Austin.