Moody National REIT II to Purchase SpringHill Suites Seattle for $74.1M

by Haisten Willis

SEATTLE — Moody National REIT II has entered into an agreement to purchase the Marriott SpringHill Suites Hotel in Seattle for $74.1 million, excluding closing costs.

The SpringHill Suites Seattle is a select-service hotel consisting of 234 guest rooms. Located on the southeast corner of Stewart Street and Yale Avenue in downtown Seattle, the SpringHill Suites Seattle is situated along one of the city’s major transportation routes with access to the corporate homes of, Microsoft, Nordstrom and REI. The hotel is also located near Puget Sound and is within walking distance of the Seattle Space Needle.

“Located downtown in a global gateway city accommodating travelers from around the world, and home to companies including, Microsoft, Boeing and Starbucks, this investment presents itself as an attractive addition to our portfolio,” says Brett Moody, CEO and chairman of REIT II.

Forbes magazine named Seattle the “No. 1 Best City for Jobs in 2015” based on 16 metrics including job opportunities, employment growth, monthly median starting salary, median annual income, time spent working and commuting, and housing affordability.

Due to its geographic location, Seattle is a national hub for manufacturing, technology industries, international business, trade and tourism.

Moody National REIT II is a publicly registered, non-listed REIT that acquires select-service hotels in major markets across the United States. Moody National REIT Sponsor LLC, an affiliate of the Moody National Cos., sponsors Moody National REIT II. Founded in 1996, Moody National Cos. has managed over $2 billion in commercial real estate.

— Haisten Willis

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