The sale was announced January 31, 2017 by a public relations company retained by Aspen Heights. The announcement did not identify the buyer but stated, “the buyer intends to announce the details of this upscale offering to the market later this year.” Read more about the sale here.
This construction project was delivered on time and within budget in September of 2016. The project was leasing up at rental prices above plan when an unsolicited offer to acquire the property was presented. Wyndham Hotels and Resorts, Inc. were looking for an upscale and extended-stay hospitality property in downtown Austin in addition to their older Wyndham Garden Inn property, and thus acquired and re-purposed this project.