Greysteel Arranges Construction Financing for 71-Room Hotel Project in Austin


The new Avid Hotel in Austin will total 71 rooms and is expected to open by the end of 2020.

AUSTIN, TEXAS — Greysteel has arranged an undisclosed amount of construction financing for a 71-room hotel project in Austin. The hotel will be located at the intersection of Tech Ridge Boulevard and East Yager Lane and will be operated under InterContinental Hotels Group’s Avid brand. Mitt Patel and Daniel Hartnett of Greysteel arranged the loan, which carries a seven-year term, on behalf of the undisclosed borrower. Construction is underway and expected to be complete by the end of 2020.

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