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The Line Austin is facing foreclosure after allegedly defaulting on a $172 million loan. (Google Maps Street View) <\/p>\n The Line Austin is facing foreclosure after allegedly defaulting on a $172 million loan. (Google Maps Street View) <\/p>\n
One of Austin’s most recognizable boutique hotels is headed towards<\/a> foreclosure after allegedly defaulting on a multi-million-dollar loan.<\/a><\/p>\n The Line Austin, a luxury hotel overlooking Lady Bird Lake near South Congress Avenue, has been flagged for a June foreclosure auction after the ownership entity defaulted on a $172-million loan tied to the property, according to The Real Deal<\/a>. JP Morgan issued the mortgage for the 428-room hotel in 2023.<\/p>\n The hotel, located at 111 East Cesar Chavez Street in Austin, opened in 2018 in a redeveloped building that once housed the Crest Inn and quickly became one of the city’s higher-profile hospitality destinations downtown. \u00a0A mid-century property built in the 1960s, it also operated under different brands, including a time as a Radisson, and for a stretch, its lobby-level restaurant was famously a TGI Fridays.<\/p>\n In October, The Line Austin was named among the top Texas hotels of the year by Cond\u00e9 Nast Traveler, according to the Austin-American Statesman.<\/a> The Line Austin’s website<\/a> describes the property as a “standout stay” in the city, featuring award-winning dining, an infinity pool, wellness spaces, complimentary bike borrow and other amenities.<\/p>\n The possible foreclosure follows mountain troubles for other properties connected to the Line hotel brand. Lenders have already taken control of Line-branded hotels in Washington D.C. and Los Angeles, signaling broader financial stress across the portfolio.<\/p>\n Soho House & Co., the parent company behind The Line Hotels brand, and The Line Austin did not immediately respond to Chron’s request for comment by the time of publication.<\/p>\n If the foreclosure moves forward, the property could hit the auction block this June unless ownership reaches a last-minute agreement with lenders.<\/p>\n More News<\/p>\n High Costs | $100K tuition era arrives for Texas private universities<\/a> For the latest and best from Chron, sign up for our daily newsletter here.<\/a><\/p>\n The Line Austin is facing foreclosure after allegedly defaulting on a $172 million loan. (Google Maps Street View) <\/p>\n
The Line Austin is facing foreclosure after allegedly defaulting on a $172 million loan. (Google Maps Street View) <\/p>\n
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