Everything is bigger in Texas, including hotel trades.
Before the ink has barely dried on the largest single-asset hotel transaction ever in Texas comes another offering involving one of the largest hotels in the Lone Star State, with another massive price tag.
A partnership between San Diego-based Manchester Financial Group and Los Angeles-based Colony Capital has brought to market the leasehold interest in the Fairmont Austin, a 1,048-room hotel in Downtown Austin at 101 Red River Street. Eastdil Secured is marketing the property, with bids expected to come in at about $575K/room, Green Street reported.
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