News: Front Section
Posted: January 27, 2023
JLL reps. Hersha Hospitality in 164-key hotel sale
South Boston, MA JLL Capital Markets has closed the sale of Courtyard Boston South Boston, a 164-key select-service hotel.JLL represented the seller, Hersha Hospitality Trust. The sale price was not disclosed.
Courtyard Boston South Boston opened in 2005. The six-story hotel includes a fitness center, business center, guest laundry, sundry and 625 s/f of meeting and event space. In addition, the hotel has an on-site restaurant serving a variety of breakfast and dinner options as well as a 6,000 s/f retail space.
The JLL team representing the seller was led by managing director Alan Suzuki and senior director Matthew Enright.
The hotel is adjacent to I-93 and is within walking distance of two MBTA train stations, Andrew Sq. and Newmarket Station, in addition to bus stops.
As a result, guests can easily access the city’s most desirable neighborhoods, including downtown Boston, the Seaport District, Back Bay, South End, Longwood Medical Area and Fenway. Courtyard Boston South Boston further benefits from a diverse set of demand drivers, including historic tourist attractions, higher education institutions, corporate headquarters, as well as some of the world’s leading healthcare centers and life-science companies.
“This transaction coincides with a strong recovery in operating fundamentals in Boston as market RevPAR has well-exceeded pre-pandemic levels in the past few months,” said Suzuki.
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