Moody National REIT Acquires Hilton Garden Inn
- Jan 12, 2015
The Hilton Garden Inn Austin NW/Arboretum is under new ownership as Moody National REIT has completed its previously announced intention to acquire the 138-key property. Holliday Fenoglio Fowler, which marketed the hotel on behalf of the seller, announced the closing of the transaction. Moody purchased the hotel free and clear of existing debt.
The hotel is located at 11617 Research Blvd. near the intersection of U.S. 183 with Loop 1 (MoPac Expressway) in the North/Northwest Austin submarket. Major employers in the area include Google, Apple, IBM, Dell, National Instruments, HP, Xerox, Oracle, and Cisco. Several of Austin’s major retail centers are also nearby, such as The Arboretum and The Domain, the city’s largest mixed-use development.
Opened in 2002 and renovated last year, the Hilton Garden Inn Austin NW/Arboretum offers 87 king rooms and 43 double rooms averaging 350 square feet, plus four king suites and four double suites averaging 600 square feet.
Amenities include a fitness center, 1,242 square feet of meeting and event space, 24-hour business center, outdoor patio areas, and indoor pool and whirlpool.
The HFF team that arranged the transaction was led by Dan Peek, senior managing director and head of HFF’s hotel group; managing director John Bourret; and real estate analysts Austin Brooks and John Callahan.
Photo courtesy of Hilton Garden Inn Austin NW/Arboretum.