Stratus Properties Inc. completes $260m sale

Stratus Properties has completed the previously announced sale of Block 21 to Ryman Hospitality Properties and its affiliates for $260 million.

Block 21 was Stratus’ wholly owned mixed-use real estate property in downtown Austin, Texas. Block 21 contains the 251-room W Austin Hotel and is home to Austin City Limits Live at the Moody Theater, a 2,750-seat entertainment venue that serves as the location for the filming of Austin City Limits, the longest-running music series in American television history. Block 21 also includes class A office space, retail space, and the 3TEN ACL Live entertainment venue and business, which has a capacity of approximately 350 people. Stratus completed the development of Block 21 in 2010.