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| Hilton Garden Inn Austin NW/Arboretum, 11617 Research Boulevard, Austin, TX |
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| Daniel Peek |
DALLAS, TX – HFF announced it has closed the sale of 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. Moody National Companies
purchased the offering for an undisclosed amount free and clear of existing
debt.
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.
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| John Bourret |
Completed in 2002
and renovated in 2014, the five-story hotel features 87 king rooms and 43
double rooms averaging 350 square feet, eight of which are handicap accessible,
as well as four king suites and four double suites averaging 600 square
feet.
Amenities include a breakfast grill, lounge, indoor pool and
whirlpool, a 24-hour business center, two outdoor patio areas, a fitness center
and 1,242 square feet of meeting and event space that can accommodate events
with up to 80 attendees.
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.
Established in 1996, Moody National Companies is a full-service
commercial real estate firm focused on identifying and developing investment
opportunities that offer long-term asset preservation as well as stable and
predictable cash flows. Headquartered
in Houston, Texas, their team of dedicated real estate professionals applies
financial expertise to offer clients comprehensive solutions for all real
estate needs.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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