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Moody National REIT II Completes $74.1 Million Purchase of Seattle Marriott Springhill Suites

Moody National REIT II Inc., a publicly registered non-traded real estate investment trust, completed the purchase of Marriott SpringHill Suites Hotel in Seattle, Washington for $74.1 million, excluding closing costs.

Located on the southeast corner of Stewart Street and Yale Avenue in downtown Seattle, the 234-room select-service Springhill Suites Seattle sits in one of the city’s major transportation routes with ready access to the corporate offices of Amazon, Microsoft, Nordstrom and REI.

Moody National REIT II acquires select-service hotels in major markets across the United States. The REIT went effective in January 2015 and has raised $28.8 million in investor equity since inception, according to the most recent Stanger Market Pulse.

The DI Wire reported when the company signed the purchase agreement in February.

Moody National REIT Sponsor, an affiliate of the Moody National Companies, is a full-service commercial real estate company that includes mortgage, development, management, realty, title and insurance divisions. Founded in 1996, Moody National Companies has managed more than $2 billion in commercial real estate.

Visit Moody National Companies in The DI Wire’s directory here.