SHENANDOAH, TX-Citing employee growth and increased commercialreal estate demand in the Woodlands, TX (about 20 miles north ofHouston), management with Moody National REIT IInc. acquired the 91-key Homewood SuitesWoodlands. The Houston-based buyer paid $12 million to agroup led by Woodlands Terrapin Investors I LLC ofCalifornia in this commercial real estate transaction.

“The property is an upscale, extended-stay product byHilton, in a major metropolitan market and locatednear the new Exxon campus,” Moody National CEO BrettMoody tells GlobeSt.com. “The property iscurrently performing well; given the multiplicity of demandgenerators and the existing strength of the market when consideringthe arrival of the new Exxon campus, we should see extremelypositive growth over the next few years.”

Moody goes on to say there are no plans to change the property’sflag – it will remain a Hilton-branded Homewood Suites -- and thatthere are improvements planned for the 2001-built asset which islocated at 298131 Interstate 45 North. He says that the timing ofthe upgrade’s completion is fortuitous – by the time hotelrenovations are completed, the nearby Exxon campus will be open andrunning, effectively adding close to 8,000 employees to themix.