Ryman Hospitality Properties, Inc. announced that it reached an agreement with Stratus Properties Inc. to acquire Block 21, a mixed-use entertainment, lodging, office, and retail complex located in downtown Austin, Texas, for a total purchase price of $260 million, which includes the assumption of approximately $138 million of existing mortgage debt. In addition, Ryman will receive approximately $11 million of existing cash reserves attributable to the assets. Completed in 2010 and located on an entire city block in Austin?s 2ND Street District, Block 21 is home to the iconic ACL Live at the Moody Theater (ACL Live), a 2,750-seat, entertainment venue that serves as the filming location for the famed Austin City Limits television series. The Block 21 complex also includes the 251-room W Austin hotel, the 3TEN at ACL Live club and approximately 53,000 square feet of other Class A commercial space. The acquisition is expected to close near the end of the fourth quarter of 2021, subject to customary closing conditions including, but not limited to, consent to the Company?s assumption of the existing mortgage loan by the loan servicer and the consent of the property manager, an affiliate of Marriott, to the Company?s assignment and assumption of the existing management agreement. The Company has capacity to finance the transaction under its revolving credit facility and may use cash on hand, including from any sales under its equity ATM program and will make a determination of funding sources prior to the transaction closing.