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.
Chicago-based hotel investment and management company, Arbor Lodging Partners, announced its latest acquisition and second hotel in the Boston metro, the Hilton Garden Inn Boston-Burlington.
Wynn Resorts (NASDAQ: WYNN) announced today that it has entered into a definitive agreement to sell all of the land and real estate assets of Encore Boston Harbor to Realty Income (NYSE: O) for $1.70 billion in cash, representing a 5.9% cap rate. Wynn Resorts will continue to operate the property.
RLJ Lodging Trust (NYSE: RLJ) today announced that it has acquired the fee simple interest in the recently constructed 205-room AC Hotel by Marriott Boston Downtown for a purchase price of $89.0 million, or approximately $434,000 per key
Xenia Hotels & Resorts, Inc. (NYSE: XHR) last week announced it has sold the 221-room Residence Inn Boston Cambridge in Cambridge, Massachusetts for a price of $107.5 million, or approximately $486,500 per key.
The sale price of $58.3 million reflects a 15.3x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel’s operating performance for 2018.
AWH Partners, LLC, Maddd Equities, LLC and Joy Construction Corporation announce the purchase of three Holiday Inn hotels in the Boston suburbs, Holiday Inn & Suites Boston-Peabody, Holiday Inn & Suites Marlborough and Holiday Inn Boston-Dedham Hotel and Conference Center in an off-market transaction.
RLJ Lodging Trust (NYSE: RLJ) last week announced that the Company has sold the 383-room Fairmont Copley Plaza in Boston, MA for $170.0 million or approximately $444,000 per key.
Pebblebrook Hotel Trust (NYSE: PEB) today announced that it has closed on the sale of the 826-space parking garage, which included 10,500 square feet of vacant ground floor space, at Revere Hotel Boston Common for $95.0 million.
The Best Western Tria marks HHM’s eighth hotel in the Boston area, including the Boxer in the historic North End, the Courtyard Brookline, and the nearby Holiday Inn Express Cambridge. The newly acquired hotel was fully rebuilt in 2009 and now includes a Starbucks and an upgraded fitness center.