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Thursday, November 20, 2008 Hotel/Resort
Jim O'Connell and Tom Foley of O'Connell Hospitality Group represented Fine Hotel and procured the buyer. Sarah Leggat, Gregory LaBine and Robyn King of Holliday Fenoglio Fowler's Boston office secured financing for the three Massachusetts hotels. The team secured a $64.5 million, three-year adjustable rate loan with Angle Irish Bank Corporation and $22 million in joint venture equity with Strategic Capital Partners. The 855-room portfolio contains the following properties: - The 227-room Hampton Inn Boston-Logan Airport at 230 Lee Burbank Highway in Revere, Mass. The seven-story property was built in 2001 and operates with an 80 percent annual occupancy. - The 225-room Holiday Inn Brookline at 1200 Beacon St. in Brookline, Mass. The two-story hotel is located four miles from downtown Boston. - The 202-room Holiday Inn Mansfield at 31 Hampshire St. in Mansfield, Mass. The single-story hotel was renovated in 2006 and is contains 14,884 square feet of meeting space. - The 102-room Holiday Inn Augusta at 110 Community Drive in Augusta, Maine. - The 99-room Comfort Inn Augusta at 281 Civic Center Drive in Augusta, Maine. O'Connell Hospitality recently brokered the $17.5 million sale of the Doubletree Hotel in Burlington, Vt. Address: Hampton Inn Boston-Logan Airport at 230 Lee Burbank Highway, Revere, Mass. - Holiday Inn Brookline at 1200 Beacon St., Brookline, Mass. - The Holiday Inn Mansfield at 31 Hampshire St., Mansfield, Mass. - Holiday Inn Augusta at 110 Community Drive, Augusta, Maine - The Comfort Inn Augusta at 281 Civic Center Drive, Augusta, Maine Size: 855 rooms Filed Under: Hotel/Resort E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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