{"id":1004119246,"date":"2015-05-12T07:38:07","date_gmt":"2015-05-12T15:38:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=346431"},"modified":"2021-05-14T17:43:38","modified_gmt":"2021-05-15T01:43:38","slug":"strategic-hotels-snaps-up-four-seasons-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/strategic-hotels-snaps-up-four-seasons-2\/","title":{"rendered":"Strategic Hotels Snaps Up Four Seasons"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Four-Season-Hotel-Austin.jpeg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-medium wp-image-346437\" title=\"Four Season Hotel Austin\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Four-Season-Hotel-Austin.jpeg\" alt=\"\" width=\"300\" height=\"168\" \/><\/a>Strategic Hotels and Resorts is under contract to purchase the Four Seasons Austin Hotel for $197 million from Lodging Capital Partners and Prudential Real Estate Investors. The hotel will remain affiliated with the Four Seasons brand.<\/p>\n<p>The hotel sits on 2.3 acres overlooking Lady Bird Lake in Austin\u2019s central business district. It features 291 guest rooms, including 28 suites, 18,000 square feet of indoor meeting space, two food and beverage outlets and a 5,500-square-foot spa. Completed in 1986, the Four Seasons underwent major renovations in 2007 and 2014.<\/p>\n<p>Strategic Hotels expects to close on the acquisition this month, and will initially fund the deal through existing cash balances and borrowings on its revolving credit facility.<\/p>\n<p>\u201cThis is an exciting opportunity to acquire the only true luxury hotel in what is arguably our nation\u2019s highest growth market,\u201d Raymond Gellein, Strategic Hotels\u2019 chairman &amp; CEO, said in a statement. \u201cAs we have long stated, expanding our geographic diversity is a strategic priority. This acquisition not only achieves that, but adds yet another distinctive, high-performing property to our portfolio.\u201d<\/p>\n<p><em>Photo courtesy of <a href=\"https:\/\/www.fourseasons.com\/austin\/\" target=\"_blank\" rel=\"nofollow noopener\">Four Seasons Hotel Austin<\/a>.<\/em><\/p>\n<p style=\"text-align: justify\"><em><br \/>\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strategic Hotels and Resorts recently announced signing an agreement to purchase the Four Seasons Austin Hotel for $197 million. The acquisition, expected to close in later this month, will initially be funded with existing cash balances and borrowings on its currently undrawn revolving credit facility.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[],"class_list":["post-1004119246","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Strategic Hotels Snaps Up Four Seasons - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/strategic-hotels-snaps-up-four-seasons-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strategic Hotels Snaps Up Four Seasons\" \/>\n<meta property=\"og:description\" content=\"Strategic Hotels and Resorts recently announced signing an agreement to purchase the Four Seasons Austin Hotel for $197 million. The acquisition, expected to close in later this month, will initially be funded with existing cash balances and borrowings on its currently undrawn revolving credit facility.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/strategic-hotels-snaps-up-four-seasons-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-12T15:38:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T01:43:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Four-Season-Hotel-Austin.jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/strategic-hotels-snaps-up-four-seasons-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/strategic-hotels-snaps-up-four-seasons-2\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Strategic Hotels Snaps Up Four Seasons\",\"datePublished\":\"2015-05-12T15:38:07+00:00\",\"dateModified\":\"2021-05-15T01:43:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/strategic-hotels-snaps-up-four-seasons-2\\\/\"},\"wordCount\":188,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/strategic-hotels-snaps-up-four-seasons-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/Four-Season-Hotel-Austin.jpeg\",\"articleSection\":[\"Austin\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/strategic-hotels-snaps-up-four-seasons-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/strategic-hotels-snaps-up-four-seasons-2\\\/\",\"name\":\"Strategic Hotels Snaps Up Four Seasons - 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