BOSTON– Holliday Fenoglio Fowler, L.P. announced that it has closed the sale of Courtyard Boston Logan Airport, a 351-room, full-service, Marriott-branded hotel in Boston, near Boston Logan International Airport.
HFF marketed the property on behalf of the seller, affiliates of Rockwood Capital, LLC.
Located at 225 William F. McClellan Highway, Courtyard Boston Logan Airport is situated in East Boston, 2.5 miles north of Boston Logan International Airport and within five miles of downtown Boston. Additionally, the property is located along Route 1A, which connects to downtown Boston via the Sumner and Ted Williams Tunnels. The hotel was built in phases and comprises 12-story and 11-story guestroom towers connected by a two-story, multi-use building. The hotel features 2,257 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and Brinkley’s Restaurant & Lounge.
The HFF investment sales team was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and directors KC Patel and Alan Suzuki.
“The Logan Airport lodging market continues to be one of Boston’s best-performing submarkets,” Meikleham said. “Courtyard Boston Logan Airport has consistently out-performed other airport hotels because of its location, quality, Marriott affiliation and management team. HFF has a long-term relationship with both the buyer and seller and viewed this acquisition as a ‘win-win’ for both entities.”
Rockwood Capital, LLC is a real estate investment management firm, founded in 1995 that provides equity capital combined with real estate operating expertise for repositioning, recapitalization, development and redevelopment of retail, hotel, residential, office and research and development space in key markets throughout the United States.
Rockwood and its principals have invested on behalf of their clients approximately $23.2 billion of real estate through ten value-add vehicles and eight separate accounts. Today, Rockwood is an 82-person real estate investment firm with offices in New York, New York; San Francisco, California; Los Angeles, California; and Seoul, Korea, that manages a portfolio of approximately $3.6 billion of net equity value in approximately $8.8 billion of gross real estate value.