Claremont Adds Residence Inn in Fort Point to Boston Hotel Portfolio

BOSTON—Claremont Companies of Bridgewater, MA has acquired the 120-suite Residence Inn Boston Downtown Seaport from Lebanon, NH-based Norwich Partners,, LLC.

The sale transaction for the hotel asset in the Fort Point neighborhood of Boston was announced by brokerage firm Holliday Fenoglio Fowler.

Norwich Partners opened the hotel in 2013. The Boston Business Journal reported that Claremont acquired the property located within walking distance of the MBTA, the Financial District, the Boston Convention and Exhibition Center, the Boston World Trade Center, Faneuill Hall and Quincy Market for $77 million.

Originally built as The Stillings Building in 1901 by the Boston Wharf Co., the brick, post and beam property was redeveloped into the Residence Inn Boston Downtown Seaport. The adaptive re-use project was honored as the “Best Custom Project” in 2014 by Marriott International.

The 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.

The HFF investment advisory team that represented Norwich Partners in the transaction consisted of managing director Denny Meikleham, senior director Alan Suzuki and director Matthew Enright.

In July, Claremont Companies broke ground on the 174-room, 10-story Hilton Garden Inn Boston Brookline at 700 Brookline Ave. in Brookline, according to a report in the Boston Real Estate Times and also with joint venture partners the Hampshire Companies and NAI Hanson began construction on a mixed-use project in Hackensack, NJ.