News: Northern New England
Posted: August 5, 2016
HFF closes sale and arranges financing for 107-room hotel
Ashworth by the Sea - Hampton Beach, NHHampton Beach, NH Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale and arranged financing for Ashworth by the Sea, a 107-room, oceanfront hotel located in the New Hampshire Seacoast community of Hampton Beach.
HFF marketed the property on behalf of the seller, XSS Hotels, and procured the buyer, Linchris Hotel Corp. Additionally, HFF assisted the new owner in securing the seven-year, fixed-rate acquisition financing through Middlesex Savings Bank. The hotel was sold unencumbered by management.
Ashworth by the Sea is the only full-service oceanfront hotel in the state of New Hampshire. Hotel guests can choose from 106 guestrooms and suites, most offering ocean views and private balconies; and one detached cottage.
The recently-renovated property features three food and beverage outlets, including Breakers Restaurant and Bar, Wharfside Café and Sandbar Rooftop Lounge. Hotel guests have access to an indoor heated pool, fitness center, sundry shop, business center and more than 6,000 s/f of event space across five meeting rooms.
The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.
HFF’s debt placement team representing the buyer was led by director Greg LaBine.
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