trending Market Intelligence /marketintelligence/en/news-insights/trending/IJtUGbRExCKRTNEnJuD0qg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Ryman Hospitality Properties to buy Austin, Texas, mixed-use complex for $275M

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Ryman Hospitality Properties to buy Austin, Texas, mixed-use complex for $275M

Ryman Hospitality Properties Inc. agreed to purchase Stratus Properties Inc.'s Block 21 mixed-use real estate development and entertainment business in downtown Austin, Texas, for $275 million.

The complex consists of the 2,750-seat Austin City Limits Live at the Moody Theater, as well as the 251-room W Austin Hotel, the 350-seat 3TEN at ACL Live Club, and 53,000 square feet of other class A commercial space.

The deal, which includes the assumption of existing mortgage debt, is slated to be completed in the first quarter of 2020, subject to customary closing conditions.

Separately, Ryman said it plans to sell 3.0 million common shares in an underwritten public offering to partly fund the acquisition, among other uses.

The hotel real estate investment trust expects to grant a 30-day option to the underwriters to acquire up to 450,000 additional shares.

Based on the REIT's Dec. 9 closing stock price of $89.07 per share, gross proceeds are expected to equate to about $307.3 million, including the additional-share option.

Stratus said it is contemplating options for the use of the net proceeds from the sale and for its future real estate development and leasing operations. The company expects to hire a financial adviser to help in its evaluation of its options following the sale completion.

BofA Securities, J.P. Morgan and Wells Fargo Securities are joint book-running managers for the offering.