BOSTON– JLL announced today that it has closed the sale of the Ames Boston Hotel, a 114-room historic hotel located in the heart of Boston’s Financial District.
JLL marketed the property on behalf of the seller, Invesco Real Estate, a global real estate investment manager, and procured the buyer, Suffolk University.
The Ames Boston Hotel is centrally located at 1 Court Street in Boston’s thriving Financial District along Boston’s renowned Freedom Trail and steps from the Old State House and Faneuil Hall/Quincy Market. Originally built in 1893, the Ames Boston Hotel is listed on the National Register of Historic Places and was redeveloped into a luxury hotel in 2009.
The JLL Capital Markets team representing the seller was led by Managing Director Denny Meikleham, Senior Director Alan Suzuki and Director Matthew Enright. Ted Wheatley and Robert Webster of JLL represented the buyer in the transaction.
“This was an extremely rare opportunity for a buyer to acquire a historically significant asset in this prime location,” Suzuki said. “Interest level was very strong from both international and domestic hotel and non-hotel investors. We are happy that one of Boston’s premier luxury hotels will now be incorporated into the long-term strategic plans and initiatives of both Suffolk University and the City of Boston for providing more on-campus student housing opportunities for the thousands of students who live in Boston.”
“The 1 Court Street building expands our core downtown campus and will give our students unparalleled access to exciting living and learning experiences in the center of Boston,” said Suffolk University President Marisa Kelly. “This is a great opportunity for Suffolk and an important investment in our future, and we look forward to working closely with the city and our neighbors as we move through the community process.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.