AUSTIN, TEXAS — Columbus, Ohio-based RockBridge Capital has closed a $19.4 million financing package for a 140-room aloft hotel that is being developed in Austin. Financing consists of a $15.6 million first mortgage and $3.8 million in mezzanine financing. The loan is secured by the aloft Austin Northwest at The Domain, which is currently under development within The Domain, a 304-acre mixed-use development. The hotel will feature loft-style guestrooms with 9-foot tall ceilings, 42-inch flat-panel televisions and large guest bathrooms. The hotel will include a lobby bar, grab-and-go food options and 1,000 square feet of meeting space. The hotel will be operated by LodgeWorks, one of RockBridge’s partners. Phase I of The Domain opened in March 2007; it includes a 700,000-square-foot lifestyle center anchored by Neiman Marcus and Macy’s. Once the project is fully built out, it will contain 3.5 million square feet of office space, 1.6 million square feet of retail and restaurant space and 4,500 residential units.
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