Moody National REIT I Buys Austin Hotel

Moody National REIT I Inc., a publicly registered non-traded real estate investment trust, purchased the Homewood Suites Austin for an aggregate purchase price of $14.3 million, excluding acquisition costs.

Built in 1998, the Homewood Suites Austin is a 96-room select-service hotel located approximately six miles from Austin-Bergstrom International Airport and just minutes from downtown. The capital of Texas, the city is home to the University of Texas, with more than 50,000 students and 24,000 faculty and staff. Austin was ranked consecutively by Forbes as the No. 1 and No. 2 fastest growing cities in the nation in 2014 and 2015, respectively, and includes several features which the REIT targets – a major university and a skilled and growing labor force. Moody National REIT I Inc. is a real estate investment trust that owns select-service hotels in major markets across the United States. The REIT is sponsored by Moody REIT Sponsor LLC, an affiliate of the Moody National Companies, which is a full-service commercial real estate company inclusive of mortgage, development, realty and title divisions. Founded in 1996, Moody National Companies has managed more than $2 billion in commercial real estate.