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| Residence Inn Boston Downtown Seaport, Fort Point Neighborhood, Seaport District, Boston, MA |
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of
the 120-suite Residence Inn Boston Downtown Seaport located in the Fort
Point neighborhood of Boston, Massachusetts.
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| Denny Meikleham |
The HFF team represented the seller, Norwich Partners, LLC, and procured
the buyer, Claremont Companies.
The HFF investment advisory team representing the seller
consisted of managing director Denny Meikleham, senior director Alan
Suzuki and director Matthew Enright.
Originally built as The Stillings Building in 1901 by the Boston Wharf
Company, the unique brick, post and beam property was redeveloped into the
Residence Inn Boston Downtown Seaport in 2013.
The adaptive re-use project created an award-winning,
one-of-a-kind hotel asset rich with history, distinctive architectural detail
and modern décor.
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| Alan Suzuki |
Honored as the “Best
Custom Project” in 2014 by Marriott International, the hotel is widely
considered one of the best designed and highest quality Residence Inns in the
entire system and one of the best room products in Boston.
The 120 loft-style suites feature 12-foot-high ceilings,
exposed brick walls, wooden beams, oversized windows and fully equipped
kitchens.
The hotel’s public space is situated around a
six-story, interior atrium topped with a glass skylight providing natural light
to all floors. Hotel amenities include meeting space, a sundry shop,
business center, fitness center and two restaurant offerings: Caffe Nero and
sweetgreen.
Located in the Fort
Point neighborhood of Boston’s Seaport District, the property is easily
accessible to the Financial District, South Station, Back Bay, Cambridge and
Logan International Airport.
Additionally, the area immediately surrounding the property
has transformed into a 24-hour, live-work-play environment with a robust amenity
base of restaurants, office space, museums, art galleries and loft-style
apartments.
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| Patrick Carney |
Founded and capitalized in 2003, the company formalized a long-standing business relationship between the three founding members.
Headquartered at Lakeshore Center in Bridgewater,
Massachusetts, Claremont Companies is a privately owned and closely held real
estate investment, development and asset management firm.
The company was started in 1968 when Patrick
Carney, Claremont’s current chairman and CEO, began investing in and
developing residential multi-family properties in Southeastern
Massachusetts.
Throughout the 1970s and 1980s, the company established its
core real estate holdings by developing large scale apartment complexes throughout
New England.
In the late 1980s
and 1990s, the company expanded its real estate development and ownership into
different asset classes such as hotels, retail centers and office
buildings.
In 2003, with over
10,000 apartment and hotel units across the United States, Claremont began a
disposition strategy in order to capitalize on the overall appreciation of the
national real estate market.
CONTACT:
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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