Friday, March 25, 2016

HFF closes $54 million sale of aloft and element Lexington in suburban Boston, MA

Aloft Lexington Hotel and Element Lexington Hotel, Lexington, MA

Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the 136-room aloft Lexington and the 123-room element Lexington, two hotels situated in the northwest Boston suburb of Lexington, Massachusetts.

HFF marketed the property on behalf of the seller, Rockwood Capital, LLC.  A confidential buyer purchased the hotels for $54 million, unencumbered by management.

The aloft and element Lexington hotels were developed in 2008 as prototypes for the brands and are the only Starwood select-service/extended-stay products along Route 128 in suburban Boston. 

The aloft offers hotel guests light grab-and-go dining, the w xyz bar, an indoor swimming pool, business center, game room, fitness room, meeting room and complimentary shuttle service.

 The element features complimentary breakfast, evening reception, an indoor swimming pool, business center, fitness room, meeting room and complimentary shuttle service. 

The hotels are situated on a 12.7-acre site at 727 Marrett Road at the intersection of Interstate 95/Route 128 and Route 2A in Lexington, about 16 miles northwest of Boston. 

Alan Suzuki
Within a five mile radius of the hotels exists more than 15 million square feet of office space, occupied by top corporate demand generators VistaPrint, Shire Pharmaceuticals and Raytheon.

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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