JRK Property Holdings, Inc. acquired a Five-property Marriott hotel portfolio in Austin, Texas from RLJ Lodging Trust for $65 million.
January 27, 2020
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JRK Property Holdings, Inc. acquired a Five-property Marriott hotel portfolio in Austin, Texas from RLJ Lodging Trust (NYSE:RLJ) for $65 million on January 27, 2020. The transaction is an all-cash purchase. The Marriott Austin South Portfolio totals a combined 602 rooms across five premium-branded hotels located on one contiguous lot in South Austin. The portfolio includes a Marriott, Courtyard, Residence Inn, SpringHill Suites and Fairfield Inn & Suites. JLL Capital Markets represented RLJ Lodging Trust in the acquisition and JRK was self-represented.
JRK Property Holdings, Inc. completed the acquisition of a Five-property Marriott hotel portfolio in Austin, Texas from RLJ Lodging Trust (NYSE:RLJ) on January 27, 2020. JRK Property Holdings used money from its $350 million Hospitality Fund for the purchase.
RLJ Lodging Trust is a self-advised and self-administered real estate investment trust that owns primarily premium-branded, rooms-oriented, focused-service and compact full-service hotels. The Company's portfolio consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms. Its brand affiliations consist of Marriott, which includes Courtyard, Residence Inn, Marriott, Fairfield Inn & Suites, Renaissance, SpringHill Suites, AC Hotel, Moxy and Tribute Portfolio; Hilton, which includes Embassy Suites, Hilton Garden Inn, DoubleTree/DoubleTree Suites by Hilton, Hampton Inn/Hampton Inn & Suites, Curio Collection, Homewood Suites, Hilton and Tapestry Collection; Hyatt, which includes Hyatt House, Hyatt Place and Hyatt Centric, and Wyndham. The Company's hotel properties include Embassy Suites Milpitas Silicon Valley, Hyatt House San Ramon and Moxy Denver Cherry Creek.
RLJ LODGING TRUST 
