Ryman Hospitality Properties Inc. just announced the acquisition of Block 21, a mixed-used entertainment and lodging complex, in the heart of downtown Austin, Texas, and home to the ACL Live music venue and a W hotel. Ryman, the owner of Nashville’s Grand Ole Opry and Ole Red, believes Block 21 is a natural complement to its hospitality and entertainment assets and will become a must-visit destination for country music lifestyle consumers. The purchase price is $275 million and includes about $140 million of debt on the property. Ryman will fund the cash portion with an offering of 3 million shares of its common stock….
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