US-based private real estate company Adventurous Journeys (AJ) Capital Partners has acquired a property in Downtown Austin, Texas. The property will be converted into the Graduate Austin, part of the Graduate Hotels collection.
The hotel will be situated at the intersection of West 18th Street and Guadalupe Street, near the University of Texas campus and Texas Capitol Mall and is expected to open its doors in 2025.
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Upon completion, this 18-storey development will provide meeting spaces, a fitness centre, a rooftop bar and restaurant, a ground-floor cafe and a rooftop pool. Details about the number of rooms have not been disclosed.
Graduate Hotels chief investment officer Tim Ryan said: “Austin has long been a dream location for Graduate.
“The city’s distinct personality, creative energy and adventurous spirit align perfectly.
“We’re huge fans of this community and all things UT and we look forward to delivering a space that reflects and celebrates those sentiments through design that’s rooted in storytelling, gracious hospitality, best-in-class food and beverage offerings and more.”
The Burt Group will work with the AJ team on the project as a co-developer.
Currently, the Graduate Hotels collection includes 33 properties open in the US and the UK.
In addition to the Austin hotel, the company intends on establishing four other properties in Austin, Texas, Dallas, Texas, Princeton, New Jersey and Auburn, Alabama.
