News: Front Section
Posted: July 26, 2019
FinanceBoston arranges $31.8m in long-term, fixed-rate non-recourse financing
Boston, MA FinanceBoston has arranged a $31.8 million in long-term, fixed-rate non-recourse financing, secured by The Hawthorne Hotel in Salem, The Colonial Inn in Concord, and the Publick House in Sturbridge.
These properties were constructed as early as 1716, and are all members of the Historic Hotels of America. Each property benefits from a irreplaceable trophy location in the core of their respective communities.
“This closing was completed by arranging a two-bank syndicate, with highly competitive terms commensurate with the strength of each asset and more importantly, the management team,” said Doug Landry, principal at FinanceBoston. “We are looking forward working with our client on future acquisitions as they expand their historic New England portfolio.”
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