HOUSTON-Moody National Cos. made its first buy in South Carolina, adding the 113-room Hyatt Place North Charleston to its portfolio. The local buyer paid $11.8 million in an off-market transaction to Naman Hotels for ownership rights to the three-year-old hotel.

According to Moody National’s chairman and CEO Brett Moody, the hotel at 7331 Mazyck Rd. made sense for a number of reasons, not the least of which is that it’s near Boeing Co.’s 787 aircraft manufacturing plant – a facility that produces parts for the aircraft also known as the Dreamliner. “Boeing recently announced a $1 billion expansion to create another 2,000 new jobs,” Moody says.

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