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REIT pays $26M for Marriott Residence Inn Austin-UniversityREIT pays $26M for Marriott Residence Inn Austin-Universityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=109402015-10-29T05:00:00Z
​​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.
CoStar Group
Austin-Round Rock
Hotel
http://www.costar.com/News/Article/Moody-National-REIT-II-Pays-$255-Million-for-112-Room-Hotel-Near-UT-Campus/176585Read more at {Source}

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