BOSTON– Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of the 179-suite Residence Inn Portland Downtown/Waterfront hotel located in Portland, Maine.
The HFF team marketed the property on behalf of the seller, Norwich Partners, and procured the buyer. The hotel was purchased unencumbered of management.
The Residence Inn Portland Downtown/Waterfront is located at 145 Fore Street at the corner of Fore and Hancock Streets in downtown Portland.
The hotel is across from the Ocean Gateway Garage and just up the street from the Ocean Gateway Terminal cruise port as well as many of Portland’s restaurants, retail shops, leisure attractions and offices. Completed in 2009, the five-story property features suites with fully equipped kitchens, the Shipyard Lounge, 1,235 square feet of event space, an outdoor courtyard, business center, fitness center, indoor pool and complimentary hot breakfast.
Norwich Partners is a New England and Florida-based developer of and investor in commercial real estate, primarily hotels in the northeastern U.S. and Florida. Founded and capitalized in 2003, the company formalized a long-standing business relationship between the three founding members.