Oct 29, 2015
REIT pays $26M for Marriott Residence Inn Austin-University
AUSTIN - Marriott Residence Inn Austin-University at 1200 Barbara Jordan Blvd. sold for $25.5 million, or approximately $228,000 per room. The buyer is Houston-based Moody National REIT II Inc.The four-story hotel sits in close proximity...
AUSTIN - Marriott Residence Inn Austin-University at 1200 Barbara Jordan Blvd. sold for $25.5 million, or approximately $228,000 per room.
The buyer is Houston-based Moody National REIT II Inc.
The four-story hotel sits in close proximity to the University of Texas campus, Texas State Capital, Seton Medical corporate headquarters and Dell Children’s Hospital in Austin’s East submarket.
The 112-room select-service hotel was built in 2014 within the Mueller Regional Retail Center.
The 407,000-sf regional retail power center is anchored by The Home Depot, Best Buy, Bed Bath & Beyond, Marshalls, Old Navy and Staples.
The seller was Benchmark Development Corp. and Gentry Mills Capital.
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