Hospitality Funding Arranges $60M Construction Loan for 212-Room Austin Cambria
Palm Beach, FL – Hospitality Funding, Inc in partnership with SRF Ventures is pleased to announce the closing of a $60M construction loan for a new Cambria Hotel in downtown Austin, TX. This will be the fourth Cambria property with franchise partner Stratus Development Partners, LLC, with the hotel scheduled to open in 2023.
Located in a superb downtown location in the State’s Capital, the fifteen-story, 212-room Cambria property is within walking distance of Rainey Street, the Austin Convention Center, and the University of Texas.
The Capital is located along the Colorado River and often referred to Silicon Hills due to the strong presence of a variety of tech related companies.
Cambria Austin will also offer a rooftop bar and venue with separate street access.
Cambria hotels are designed to provide a unique and distinctive experience with the services and amenities that travelers demand, including chic décor, flexible spaces for meeting or socializing, and rooms that feel like an upgrade.
Hospitality Funding’s Chairman Scott Silver said, "Despite the Covid delay and a very challenging environment for hotel construction financing, we were able to deliver a great execution for our client Stratus Development. We are very pleased to close this transaction for the downtown Austin Cambria”
About Hospitality Funding Inc
Hospitality Funding, Inc. is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior sponsors to find capital solutions that fit their specific goals for property acquisitions. For more information, please visit www.hospitalityfunding.com.
About SRF Ventures
SRF Ventures is a boutique real estate advisory firm and direct lender providing a range of services in investment banking, asset and project management, investments and acquisition/disposition services.
About Stratus Development Partners, LLC
Stratus Development Partners, LLC (“Stratus”) is a full-service real estate firm. Together the highly talented team of principals encompass over 40 years of institutional development experience in origination, entitlement, repositioning, and management focused on value-added strategic acquisitions and innovative developments.