News: Front Section
Posted: July 29, 2022
Bauer and Moynihan of The Business Exchange & Ellis Realty Advisors arrange $5.25 million sale of Seashore Park Hotel
Orleans, MA Ellis Realty Advisors and The Business Exchange have completed the sale of 24 Canal Rd., known as Seashore Park Hotel. The three-acre site, features 29,000 s/f of lodging with 63 doors. Senior partners Colin Moynihan and Adam Bauer of Ellis Realty Advisors and The Business Exchange represented the sellers, Furman Realty Trust in the sale. Scott Hutchinson from CBRE Boston represented the buyer The Surf Company LLC.
The call for offers process conducted in the spring netted multiple offers. The Surf Company led by principal Taylor Perkins was the ultimate winner in the bid process and his hospitality team completed the acquisition. The Surf Company owns several hospitality assets throughout New England.
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Quick Hits
Columns and Thought Leadership
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Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
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Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: