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Manchester Financial Group secures $430 million refinancing for luxury hotel Fairmont Austin | News

Manchester Financial Group secures 0 million refinancing for luxury hotel Fairmont Austin | News

Manchester Financial Group has secured $430 million in refinancing for the Fairmont Austin, a 37-story luxury hotel in downtown Austin.

JLL Capital Markets represented Manchester Financial Group in securing the five-year, fixed-rate, interest-only SASB CMBS loan, with Goldman Sachs acting as lead manager and sole bookrunner. The all-mortgage financing package was used to replace a $300 million senior term loan and $125 million of mezzanine debt.

At 1.4 million square feet, Fairmont Austin is the city’s fifth-tallest building. Developed by Manchester Financial Group and first opened in 2018, the hotel features 1,048 guest rooms and suites, nearly 140,000 square feet of meeting space, a full-service spa, five curated food and beverage outlets, a seventh-floor resort-style outdoor pool, and a pedestrian walkway with direct access to the Austin Convention Center. Located at 101 Red River St., the property is within walking distance of the city’s public transportation system.