Located on the edge of Downtown, the Marriott at the Capitol is a class-A, full-service hotel that offers 365 guestrooms and more than 14,750 sf of meeting space. Other amenities include a 9,600-sf ballroom, 140-seat restaurant, two lounges, health club and indoor pool.

The hotel has been purchased on behalf of Lend Lease's Value Enhancement Fund IV, a real estate opportunity fund for institutional investors. It is the fourth in a series of closed-enhanced return real estate investment funds designed to take advantage of inefficiencies at varying stages of the real estate cycle. This is the Fund IV's third hotel acquisition.

This also is Lend Lease's second and largest purchase in the Austin area, where it also holds title to the Lakeway Inn. Other hotels in the Lend Lease portfolio include the Ritz Carlton in Pasadena, CA; Boston Harbour; and Ritz Carlton on Half Moon Bay in San Francisco.