AUSTIN - Moody National REIT I is under contract to purchase the Homewood Suites Austin for $14.25 million excluding acquisition costs.
The Homewood Suites Austin is a 96-room select-service hotel located approximately six miles from Austin-Bergstrom International Airport and is just minutes from downtown Austin.
"The Austin economy is experiencing vigorous growth, and we think that the diversified economic demand base - including high-tech, medical, state government and education - favor continued robust growth in the long-term," said Brett Moody, CEO and Chairman of the REIT.
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