AUSTIN – Moody National Cos., a Houston-based real estate firm, has purchased the Hilton Garden Inn Austin NW/Arboretum, a 138-key hotel located in Austin, Texas, which Forbes magazine named the “2014 Fastest Growing City in America”.
HFF exclusively marketed the property on behalf of the seller. The property is located at 11617 Research Boulevard near US 183’s intersection with Loop 1 (MoPac Expressway) in the North/Northwest Austin submarket where major employers including Google, Apple, IBM, Dell, National Instruments, HP, Xerox, Oracle and Cisco have offices. The Arboretum, an upscale shopping area, is less than two miles south of the hotel, and The Domain, Austin’s largest mixed-use development, is three miles southeast of the hotel.
Completed in 2002 and renovated in 2014, the five-story hotel features 87 king rooms and 43 double rooms averaging 350 square feet.
The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek, managing director John Bourret and real estate analysts Austin Brooks and John Callahan.