Houston-based Moody National REIT II, Inc. acquired the Marriott Residence Inn Austin-University at 1200 Barbara Jordan Blvd. in Austin from Benchmark Development Corp. and Gentry Mills Capital for $25.5 million, or approximately $228,000 per room.
The 112-room select-service hotel was built in 2014 within the Mueller Regional Retail Center, a 407,000-square-foot regional retail power center anchored by The Home Depot, Best Buy Bed Bath & Beyond, Marshalls, Old Navy and Staples.
Located in the East submarket, 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.
Moody National REIT II, Inc. is a publicly registered, non-listed REIT sponsored by Moody National Cos. affiliate Moody National REIT Sponsor, LLC. The REIT acquires select-service hotels in major markets across the United States.
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