You dont match a reel to a rod. You choose a rod based on what you need it to do and you choose a reel based on what you need it to do.
What weight range will you be casting? Lures and bait with the same rod usually means it will only cast one well or both poorly unless the bait and lead are on the light side or the lures are on the heavy side. No rod, for example, can cast both 1oz and 6oz well. You may be better off with 2 rods - one thats well-suited to each application, even if that means splitting up your money and buying less expensive/lower quality.
What type of line will you be using and what size reel holds 300 yards of that line? As long as that line is suitable for both bait and lures (like 40 or 50# powerpro) theres no reason the reel cant be used for both. It wont care whether its attached to a light 9 foot rod one day and a heavy 11 foot bait rod the next day. Dont split up your reel money.