Another Austin hotel is headed to the auction block, adding to a growing list of downtown properties facing financial distress.
The Hyatt Centric hotel at 721 Congress Ave. in downtown Austin is facing foreclosure, according to the Austin Business Journal. Lenders have reportedly seized the property, which is now headed for a June 2 trustee sale at the Travis County Courthouse, according to Hoodline.
The foreclosure announcement comes just days after another iconic hotel in downtown Austin was slated for the auction block, underscoring a broader trend among some of the city’s downtown hospitality properties.
Hyatt did not immediately respond to Chron’s request for comment.
Property details
The 246-unit hotel encompassing 162,293 square feet was built in 2021, according to Travis County property records. The property has an assessed tax value of $56.1 million…