McWhinney raised $70.5M for Austin hotel deal

LOVELAND — McWhinney Real Estate Services Inc. raised $70.5 million for its purchase of the Austin Proper, the luxury hotel in Texas’ capital city that it acquired late last month.

That figure comes from a Form D filed with the Securities and Exchange Commission by MH AP Austin Investments LLC, which shares a registered address with McWhinney. That LLC is also the grantee in a warranty deed for the hotel that was filed with the Travis County Clerk and Recorder.

A spokesperson for McWhinney could not be reached for comment.

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McWhinney purchased the Austin Proper from developer The Kor Group on Sept. 27. Rooms in the 244-room hotel go for about $350 per night. It features a fifth-floor outdoor pool, four restaurants, a spa and gym, 14,000 square feet of meeting space and concierge service. It opened in December 2019.  

This is McWhinney’s second recent foray into the Austin hotel market. It is also building the 246-room Hyatt Centric Austin, which will open in 2022.