Strategic Capital Partners through its fund, Strategic Partners Value Enhancement Fund, has invested in a three-hotel, 654-room portfolio with Linchris Hotel Corporation, a Mass.-based developer, manager and owner of hotel properties throughout New England. The three properties, located in Revere, Brookline and Mansfield, represent a $90 million acquisition. As part of the acquisition, Linchris and SPVEF will begin a $7 million renovation and improvement program on the assets.
The Holiday Inn in Brookline is located at 1200 Beacon St., close to Kenmore Square and immediately off the MBTA Green Line that provides access to downtown Boston. The property contains 225 rooms.
Situated along Rte. 1A in Revere, The Hampton Inn Boston-Logan Airport is two miles north of Logan International and three miles from downtown Boston. The seven-story property opened in 2001 and contains 227 rooms.
The Holiday Inn Mansfield is located within the Cabot Business Park at the intersection of I-495 and I-95. The property was renovated in 2006 and has 202 rooms.
The transaction was arranged by the Boston office of Holiday Fenoglio Fowler represented by Sarah Leggat, Greg Labine and Robyn King. HFF also arranged the third-party financing for the transaction from Anglo Irish Bank Corporation PLC.