HOUSTON, May 31, 2016 — Moody National REIT II, Inc. announced that it acquired the Marriott SpringHill Suites Hotel (“SpringHill Suites Seattle”) 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 homes of Amazon, Microsoft, Nordstrom and REI. The hotel is located near Puget Sound and is walking distance to the Seattle Space Needle.
The Springhill Suites Seattle is positioned to benefit from Seattle’s demand from both business and leisure travelers. Due to its geographic location, Seattle is a national hub for manufacturing, technology industries, international business, trade and tourism, and is the home to Starbucks and Costco. According to Forbes magazine, Seattle was ranked as the number one best city for jobs in 2015.
About Moody National REIT II, Inc.
Moody National REIT II, Inc. is a publicly registered, non-listed REIT that acquires select-service hotels in major markets across the United States. Moody National REIT II, Inc. is sponsored by Moody National REIT Sponsor, LLC, an affiliate of the Moody National Companies, 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 over $2 billion in commercial real estate.