Ryman Hospitality Closes On Purchase Of Austin's Block 21, Including ACL Live At Moody Theater

$260 Million Sale Closed

RYMAN HOSPITALITY PROPERTIES has closed on its acquisition of downtown AUSTIN's BLOCK 21 from STRATUS PROPERTIES. The mixed-use space houses lodging, retail, office and entertainment venues, including the W AUSTIN HOTEL and the ACL LIVE AT MOODY THEATER, the filming location of the city’s iconic “AUSTIN CITY LIMITS” television series. The $260 million purchase price includes the assumption of approximately $136 million of existing mortgage debt.

The deal, first announced in 2019 (NET NEWS 12/11/19), was called off during the pandemic (NET NEWS 5/26/20), then put back on the table last fall (NET NEWS 10/28/21).

“We look forward to leveraging our existing platforms and our proposed strategic partnership with ATAIROS and NBCUNIVERSAL to carry forward their good work as we position BLOCK 21 and AUSTIN as a destination for music lovers across the globe," said RYMAN HOSPITALITY PROPERTIES Chairman/CEO COLIN REED. "I would also like to thank our RYMAN HOSPITALITY PROPERTIES team and our new team members at ACL LIVE for their hard work throughout this transition process. We are thrilled to have such a passionate group of people on board as we join the AUSTIN community, and we look forward to working together to bring even more music-focused entertainment to BLOCK 21 in the coming years.”

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