A third Line hotel is facing foreclosure after lenders took control of the boutique hospitality brand’s properties in Washington, D.C. and Los Angeles.
The Line Austin was flagged for June’s foreclosure auction.
The owner allegedly defaulted on the $172 million loan backed by the hotel at 111 East Cesar Chavez Street Austin, Texas.
JP Morgan provided the mortgage for the 428-key hotel in 2023.
-TheRealDeal
#commercialrealestate
Austin restaurant news: first the takeover of Hoover’s space—and now the team behind Suerte, Este, and Bar Toti has announced Karaz, a new Middle Eastern spot coming to East Austin.
Led by Este chef, the menu is rooted in Middle Eastern traditions and seasonal Texas ingredients.
South Congress Hotel who was recently acquired by Hyatt will close in May to renovate. They’ve given staff notice that their jobs will be terminated around May 31st.