Austin hotel sold for $359.7 million as part of Blackstone dealAustin hotel sold for $359.7 million as part of Blackstone dealhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=125982016-03-24T05:00:00Z2016-03-24T21:00:00Z

​AUSTIN – ​​​​Beijing-based Anbang Insurance Group has purchased the hotel portfolio of Blackstone LP for an estimated $6.5 billion.

The portfolio​ included the Four Seasons Hotel Austin, which sold for around $359.7 million, or $1.2 million per room. Less than a year ago, the hotel sold for $197 million.

The Blackstone portfolio consists of 16 properties, including the famed Hotel Del Coronado in San Diego and several other Four Seasons-operated hotels around the country.

The Four Seasons Austin has 291 rooms on 2.3 acres at 98 San Jacinto Blvd. on the north shore of Lady Bird Lake. ​​

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2016/03/high-profile-austin-hotel-pricey-part-of.html?iana=ind_creRead more at {Source}

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