AUSTIN - The 138-room Hilton Garden Inn Northwest/Arboretum at 11617 Research Blvd. has been sold.
Moody National REIT I purchased the hotel, which was built in 2002, for $29.3 million.
Located on 3.4 acres, hotel amenities include an indoor swimming pool, in-room hospitality centers with refrigerators and approximately 1,400 sf of flexible meeting space.
The five-story hotel is within a five-mile radius of over 21 million sf of office space, including Apple, Xerox Corporation and The Domain.
Moody intends to perform a Property Improvement Plan to bring the hotel in compliance with the latest Hilton Garden Inn brand standards.
Hilton Garden Inn is the second Hilton acquisition by Moody REIT I within the Austin market over the past year.
It also purchased the Hampton Inn South Austin Airport in fourth quarter 2013.
tag: Austin news