Portland, ME & Milford, MA Alchemy Real Estate Advisors has completed the closings of the 100-room La Quinta Inn & Suites in Portland, ME and the 73-room Fairfield Inn & Suites in Milford, MA.
Alchemy represented an institutional owner in the sale of the 100-room La Quinta Inn & Suites through a competitive, traditional marketing process that generated multiple offers and secured a substantial non-refundable deposit at contract.
Alchemy represented the lender-owned hotel sold on behalf of a CMBS special servicer. A regional owner-operator acquired the property and plans to renovate it to retain the Fairfield Inn & Suites flag.
These transactions are representative of Alchemy’s strong regional foot-print and the team looks forward to announcing additional New England and New York Metro trades in the coming weeks
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and