Adventurous Journeys (AJ) Capital Partners has acquired a property in downtown Austin which will be home to the forthcoming Graduate Austin, part of the Graduate Hotels collection. The property is located in the downtown area, about a mile from the University of Texas at Austin campus and Texas Capitol Mall. Upon completion, the 18-story hotel is expected to open in 2025.
“Austin has long been a dream location for Graduate,” said Tim Ryan, chief investment officer, Graduate Hotels. “The city’s distinct personality, creative energy and adventurous spirit align perfectly. We’re huge fans of this community and all things UT, and we look forward to delivering a space that reflects and celebrates those sentiments through design that’s rooted in storytelling, gracious hospitality, best-in-class food and beverage offerings and more.”
The hotel will also offer meeting and event space; on-site parking; a fitness center; a ground-floor café and lobby bar; a rooftop restaurant and bar; and a rooftop pool. The Burt Group will serve as codeveloper of the project alongside the AJ team.
There are currently 33 open Graduate Hotels properties across the U.S. and U.K., and four additional properties in various stages of development in Auburn, AL; Austin; Dallas; and Princeton, NJ.