conference Thank call. our you and for joining year-end XXXX operational financial
is Financial me Erin with Chief today. Officer, Pickens here Our
would about Before of all a to like of top I mind say begin, what's for quick I us. word
the hotel significant Southwest current estimate on gatherings, on sure rapidly, industries worldwide. I'm significant a recently restriction As impact to of cannot we financial can and the having difficulty] the you and a impact and received the entertainment is we in Austin COVID-XX cancellation South the [technical on imagine yet Due company. here by
closely with organizations, are closely monitoring to city and the situation, taking employees and local customers We health recommended our the working and keep measures preventative safe.
Ryman to sell our attractive million, ultimate develop, we in As sell quarter, to a return the $XXX diversified on XX our creating and to our representing properties of monetize and acquire, December, Properties certain for said we strategy XX an or company, in Texas we our Block refinance Hospitality to an real stockholders. with goal estate were agreement property, investment. value is Block that fast-growing markets, long-term announced Last for looking
the of closing We second expect subject satisfaction the customary transaction close XXXX, conditions. of to quarter in to this
as XX Block with serves [technical an attractive of of properties. history example Our difficulty]
years XX contract to ago. into almost acquire we the land and a entered identified First,
strategy music Second, we operator entitlements the for the and designed secured developed hotel, secured the necessary permits, venue. the project, an a for and
the on the venue space, the space constructed, we all in of one office and with subsequently opened plans, Third, consistent hotel leased but and residences. retail and our and sold schedule
the a property operated and add most at of either or for refinancing; agreement a to producing flow recouped sell refinancing investment our XX as stockholders, in year we step last we we years, property. strong definitive to time. positioned Finally, XXXX, announced cash that for an extra end for project ultimately the Then, the property the and our value sale of
including property over Theater, Austin Live Austin XTEN the Dow Class The immense Index return and the years, the approximately A Limits Moody Hotel, residences, to Industrial The return XXX The a value components its and compared [technical and Entertainment created Average Venue for at XXXX. XX.X% Jones and for W Business, Live XXX yielded office space space S&P ACL X.X% XXX City X.X% difficulty] retail return project room luxury Stratus. XX the
held well United the a working entertainment States, as renowned have Block to most property's XX maximizing of markets are sale strongest [covenant] call we In a long-term opportunities and [Ph] most commercial and conference the they year and their XX of Ryman recent in will promoting February, artists. and content, difficulty] us financial on our property that during closing its the believe place position be cross Austin two strategy. space, acquisition Block considers also stated indicated XX and critical of the considers it We as and history. retail concerts, Ryman range combining Nashville, on will [technical Ryman's music the in
including Santal generating reserves, to were and to of cash proceeds pleased announcing we complete $X in to remaining the million agreement the million. XX, refinancing our Block the addition the reducing cash fully-leased investment In of sell property to $XX
$X.X sold also Amarra Villa's I completed remaining the townhomes. of Barton Phase for million, and Creek Village We
Our of Austin initial K, of applications primarily Travis projects permit approved nicely subdivision O, double other have L, the to and also City Creek's October, cycle. is the been for Barton County development development. across approximately expected residential progressing our Sections the which density In
expect Creek, of next financing our We at Barton to market Stratus involve two conditions. important to initiatives subject and
phases second, complete to K, O, N. Sections O, plan are we Creek. for have in are and we in initial land First, remaining process additional last the we N L, L, tracks permitting Barton and planning K, for density evaluating two undeveloped the Section
active have open Lantana in vacant leased the of four of pad difficulty] Kingwood Place, excess cash Texas, seen and in Crossing space Texas, leases debt flow retail for increased our service. West Crossing, remaining retail are and completed XX we are development retail including are XX for have been Killeen, of the tenants approximately West interest for Jones market those generating aggregate as space [technical XX% and open All HEB at business. Place, Station, Killeen signed of business Killeen and in in Our leasing XX% XX projects: currently sites. XXXX in College as tenants December At Jones are and
new September has generated We sites. site traffic significant in the which one lease pad opening ground with attracted have since Chick-fil-A, interest remaining to and last
the grand January At are this both two in successful and of for XXXX, XX Starbucks December retail project. to as evaluate retail and which space, Austin The Dental. of had and the component XXXX, Place at includes Place in XX by At opening signed Marriott Moviehouse multifamily AC anchor December in including ground Lantana for Kingwood lease the tenant continue approximately underway. for for leases We Eatery additional we on open by of Pacific & a a [Technical billing, Hotel of a XX% construction for open construction had we options an HEB the AC tenants difficulty] have we is business November commence Marriott. third XXXX. tenants business Hotel the
we [technical with and lease HEB XXXX digital of have including delivery As ground signed Chase two XX program. the and HEB's Bank December difficulty],
construction multifamily Mary evaluating We to the currently as leased XX to XX%. XX% were at and increased in December this are as of XXX completed units year, December plans develop since Saint has last We the of XXXX, of of component. the
of pads sell in for be HEB pads to feet work the area explore conditions. first opportunities XX,XXX subject expect phase of which sale. Place Magnolia cycling held located anchored Magnolia, We retail stabilization will the upon space, to for next to project, square and three for began same to of market our lease, Texas, four consist approximately We shadow
lots, XXX,XXX square feet units XX commercial Plans and for of XXX multifamily future phase additional include hotels, family two limited service single space.
various broad have will for conditions. property. to react the allow under to on latitude We used existing component market currently which evaluating changing We're of this multifamily the options entitlements, us
I review for will turn of to Chief now call financial the a details. Erin? Officer, Erin over our the Pickens Financial