122-Key TownePlace Suites Sells to Condor Hospitality Trust

Condor Hospitality Trust Inc. closed on the sale of the 122-room TownePlace Suites by Marriott Austin North/Tech Ridge, located to the north of downtown Austin. The Bethesda, MD-headquartered buyer paid $19.8 million to developer/owner MB Hospitality LP of Dallas for the hotel, which will continue to be managed by Aimbridge Hospitality.

Located at 12417 Tech Ridge Blvd., the TownePlace Suites was dubbed “the youngest select-service product in the North Tech Ridge submarket,” according to Condor Hospitality’s Bill Blackham. He went on to say the submarket has many drivers, “including Dell’s corporate campus, Samsung’s semiconductor facility and General Motors’ IT innovation facility.”

The hotel came online in early 2017, and offers studio and one-bedroom suites with fully equipped kitchens and separate living/working/sleeping areas.

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