HOUSTON – Moody National REIT II, a Houston-based hotel REIT, acquired the Marriott SpringHill Suites Hotel in Seattle for $74.1 million.
The 234-room hotel is located near Puget Sound and is walking distance to the Seattle Space Needle, neat Stewart Street in downtown Seattle.
The Springhill Suites Seattle is positioned to benefit from Seattle’s demand from both business and leisure travelers. Seattle is a national hub for manufacturing, technology industries and trade and is the home to Starbucks and Costco.Moody National REIT II is a publicly registered, non-listed REIT that acquires select-service hotels across the United States. The hotel REIT is affiliated with the Moody National Companies, a Houston-based commercial real estate company that includes mortgage, development, management, realty, title and insurance divisions.
Moody National Cos., led by CEO Brett Moody, recently purchased the 164-unit Le Renaissance apartments on the Katy Freeway near Houston’s Bunker Hill Road. Long-range plans call for the prime apartment site to be redeveloped as a mixed-use project.
Moody also recently purchased a Hampton Inn hotel at 11333 Katy Freeway in Houston.
June 1, 2016