Three MA Hotels Trade Between Local Firms

BOSTON—Linchris Hotel Corp. of Hanover, M/A has sold a three-hotel property portfolio in Greater Boston to Jamsan Hotel Management of Lexington, MA.

The three hotel properties— the DoubleTree by Hilton Hotel Boston – Milford, the Doubletree by Hilton Hotel Boston – Rockland and the Hilton Garden Inn Plymouth—total 433 rooms. No financial details of the transaction were disclosed.

Holliday Fenoglio Fowler, L.P. represented Linchris Hotel Corp. and procured Jamsan Hotel Management in the deal. The HFF investment advisory team representing the seller included managing director Denny Meikleham, senior director Alan Suzuki and director Matthew Enright.

The hotels are all located within 40 miles of Boston.  The DoubleTree Hilton Hotel Boston – Milford offers 176 rooms and 10,000 square feet of meeting space. The hotel secures guests via events at Gillette Stadium/Patriot Place, the Xfinity Center, the New England Sports Center as well as corporate demand from local corporations, including Dell EMC.

The 127-room DoubleTree by Hilton Hotel Boston – Rockland has 3,814 square feet of meeting space and is located on Boston’s South Shore near Route 3.

The Hilton Garden Inn Plymouth has 130 rooms and 1,372 square feet of meeting space. Plymouth is home to many historical tourist attractions, including Plimoth Plantation, Plymouth Rock and the Mayflower, which all generate business for the hotel.

Earlier this month, Linchris Hotel Corp. added a hotel property in Michigan, in a deal where HFF arranged financing for the purchase. Linchris acquired the 225-room Holiday Inn Ann Arbor Near The University of Michigan.

HFF worked on behalf of the borrower, an affiliate of Linchris Hotel Corp., to arrange the five-year, fixed-rate loan.  Loan proceeds will be used to acquire the hotel and execute a property improvement plan that will include modernizing the guestrooms, bathrooms and building envelope. No financial terms of the hotel deal were released.

Since its development in 1980, the Holiday Inn Ann Arbor Near The University of Michigan has been one of the only full-service hotels on the north side of Ann Arbor.  The hotel, which was last renovated in 2012, features more than 6,800 square feet of meeting space, a full-service restaurant, fitness center, tennis and basketball courts, video arcade, 24-hour business center, on-site salon and seasonal indoor/outdoor pool.

The HFF debt placement team representing the borrower consisted of managing director Greg LaBine, senior director Jeff Bucaro and director Nicole Aguiar along with managing director Matthew Schoenfeldt.