NEW YORK Lend Lease Real Estate Investments acquired the Marriott at the Capitol in Austin, TX. The hotel was purchased on behalf of Lend Leases Value Enhancement Fund IV, a real estate opportunity fund for institutional investors, from USAA Real Estate Limited Partnership for an undisclosed price.
The Marriott at the Capitol is a full-service, 365-room hotel that offers more than 14,000 square feet of meeting space.
The Fund also recently acquired the Doubletree Hotel at the National Airport in Arlington, VA. (3/19/01)