JLL Capital Markets announced today that it has closed the sale of Courtyard Boston South Boston, a 164-key select-service hotel in Boston, Massachusetts.
JLL represented the seller, Hersha Hospitality Trust.
Courtyard Boston South Boston opened in 2005 under the Courtyard by Marriott brand, one of the most prominent select-service brands in the world. The six-story hotel includes a fitness center, business center, guest laundry, sundry and 625 square feet of meeting and event space. In addition, the hotel has an on-site restaurant serving a variety of breakfast and dinner options as well as a 6,000-square-foot retail space.
The hotel, which is just 10 minutes from downtown Boston, is adjacent to Interstate 93 and is within walking distance of two MBTA train stations, Andrew Square and Newmarket Station, in addition to bus stops. As a result, guests can easily access the city’s most desirable neighborhoods, including downtown Boston, the Seaport District, Back Bay, South End, Longwood Medical Area and Fenway. Courtyard Boston South Boston further benefits from a diverse set of demand drivers, including historic tourist attractions, higher education institutions, corporate headquarters, as well as some of the world’s leading healthcare centers and life-science companies.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Alan Suzuki and Senior Director Matthew Enright.
“This transaction coincides with a strong recovery in operating fundamentals in Boston as market RevPAR has well-exceeded pre-pandemic levels in the past few months,” said Suzuki.