HFF SECURES $165 MILLION LOAN FOR CONSTRUCTION OF W HOTEL

AUSTIN, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has secured a $165 million construction loan for the new W Hotel & Residences located at Second Street and Lavaca in downtown Austin. Scheduled for completion in 2011, the project will contain 252 guest rooms on the lower floors of the tower, and 165 residential units on floors 18 to 37. Residences will contain one to four units. Residents and guests will have access to a 24-hour concierge service, restaurants and clubs, an elevated garden incorporating a pool and a bar, 5,000 square feet of meeting space, 4,300 square feet of banquet space, and an 8,000-square-foot spa and fitness center. Whitaker Johnson of HFF represented Stratus Properties and the Canyon-Johnson Urban Fund in securing the loan. The lender is Corus Bank, N.A.