BOSTON– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale and arranged financing for the 180-room Four Points by Sheraton Boston Logan Airport located in Revere, Massachusetts.
HFF marketed the property on behalf of the seller, Logan Hospitality Associates, LLC, a division of KW Development, LLC. Fingerprint Hospitality, LLC was an advisor to and an investor in the buyer. Driftwood Hospitality will manage the asset. Additionally, HFF worked on behalf of the buyer to secure a three-year, floating-rate acquisition loan through TIAA Direct, a division of TIAA-CREF Trust Company, FSB.
Located at 427 Squire Road at the Route 60/Route 1 intersection, the Four Points by Sheraton Boston Logan Airport is less than five miles from Logan International Airport and approximately six miles from downtown Boston. The property sits on 3.3 acres of land adjacent to the Northgate Shopping Center, and is the only hotel within its competitive set to offer restaurant and entertainment amenities within walking distance.
Renovated in 2013, the hotel offers guests 3,755 square feet of meeting space, an indoor pool, fitness room, complimentary shuttle service, complimentary hot breakfast and in-room high-speed Internet access. The hotel also features the Bisuteki Japanese Steakhouse (leased) and a park and fly operation for travelers to Logan International Airport.
The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.
HFF’s debt placement team was led by director Lauren O’Neil.