BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.), through its HFF Securities affiliate, has arranged programmatic joint venture equity for Linchris Hotel Corporation. The initial funding was used for the acquisition and subsequent reflagging of two hotels, the Doubletree Hotel in Milford (top left photo) and the Holiday Inn in Rockland, Massachusetts.(top right photo)
HFFS director Janet Krolman (middle right photo) and HFF director Greg LaBine (middle left photo) worked exclusively on behalf of the borrower to secure pr
ogrammatic joint venture equity with CrossHarbor Capital Partners.“This venture provided Linchris with access to the capital to continue actively acquiring additional hotel properties in the near and longer term and further allows Linchris greater surety of execution,” stated Krolman.
“CrossHarbor actively seeks strong acquisition opportunities with top operating partners across all asset classes, including hotels, and making the investm
ent with Linchris a great match,” added LaBine.
ent with Linchris a great match,” added LaBine. “We are pleased to be partnering with Linchris. Both firms share a common acquisition and investment philosophy and in seeking the strongest operating partners across all asset classes, Linchris clearly meets that standard for hotels. We believe the strategic allia
nce will allow both firms the ability to capitalize on opportunities in the lodging sector,” said Dan Jacobson of CrossHarbor Capital Partners.
nce will allow both firms the ability to capitalize on opportunities in the lodging sector,” said Dan Jacobson of CrossHarbor Capital Partners. The Doubletree Hotel is located at 11 Beaver Street off Interstate 495 and close to the Massachusetts Turnpike in Milford, approximately 27 miles southwest of Boston.
The five-story, 173-room property was renovated in 2007 and post-acquisition will receive additional improvements including new televisions and HVAC units. Hotel amenities include 8,500 square feet of meeting and banquet space, Legends Sports Bar and Grille, Il Cigno restaurant, an indoor pool, a fitness center and a business center.
Situated 15 miles south of Boston at 929 Hingham Street in Rockland, the former Radisson Hotel will be reflagge
d as a Holiday Inn. The hotel is convenient to Route 3 South and area business parks. The property, the only comparable full-service hotel in its market, has five stories with 127 rooms and on-site amenities include 3,800 square feet of meeting and banquet space, a 96-seat restaurant, a fitness room, an outdoor pool and a business center.
Situated 15 miles south of Boston at 929 Hingham Street in Rockland, the former Radisson Hotel will be reflagge
d as a Holiday Inn. The hotel is convenient to Route 3 South and area business parks. The property, the only comparable full-service hotel in its market, has five stories with 127 rooms and on-site amenities include 3,800 square feet of meeting and banquet space, a 96-seat restaurant, a fitness room, an outdoor pool and a business center.As part of the reflagging effort, the hotel will undergo a renovation of the lobby, common areas and guestrooms.
CONTACTS:
CONTACTS:
Janet N. Krolman, HFFS Director, 617 338 0990, jkrolman@hfflp.com
Gregory F. LaBine, HFF Director, 617 338 0990, glabine@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
