Konover Hotel breaks ground on 125-room Fairfield Inn & Suites by Marriott
A new 125-room Fairfield Inn & Suites by Marriott broke ground recently. Located at 867 Iyannough Rd. (Rte. 132), the Fairfield Inn & Suites Hyannis is scheduled to open in May 2015 and will operate as a Marriott franchise, owned and managed by Konover Hotel Corp. of West Hartford, Conn.
Formerly a Days Inn, the existing hotel closed on August 4. The property will undergo a nine month renovation and expansion, including the addition of a 3rd story and guest elevators. Located one mile from Barnstable Municipal Airport and area beaches, the hotel offers guests convenient access to Hyannis, Cape Cod and the islands of Martha's Vineyard and Nantucket.
The groundbreaking included congressman William Keating (D-MA9), officials from the Town of Barnstable, plus representatives of The Simon Konover Co., Cape Cod Chamber of Commerce/Convention and Visitors Bureau, and the Hyannis Area Chamber of Commerce.
James Wakim, president and COO of The Simon Konover Co. acknowledged the warm reception of the Cape Cod community, saying, "It is a privilege to be here in this historic region and to work with all of you to bring the Fairfield Inn & Suites brand to Hyannis."
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
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:
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.
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.