Four Points by Sheraton Boston Logan Airport - Revere, MARevere, MA Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale and arranged financing for the 180-room Four Points by Sheraton Boston Logan Airport. The sale price and financing amount was not available.
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 Rd. at the Rte. 60/Rte. 1 intersection, the Four Points by Sheraton Boston Logan Airport is less than five miles from Logan International Airport and 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 s/f 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.
Fingerprint Hospitality LLC is a lodging advisory firm focused on full service assets in urban markets. Led by Principal David Snell, Fingerprint brings over $8 billion of hospitality acquisition and development experience across major US and European markets. Fingerprint specializes in extracting the intrinsic merits of both branded and independent hotels to maximize asset value.
TIAA is a unique financial partner. With an award-winning track record for consistent investment performance, TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $854 billion in assets under management (as of 12/31/2015) and offers a wide range of financial solutions, including investing, banking, advice and guidance, and retirement services.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.