Hotel Deals in the Northeast

NATIONAL REPORT—A refinancing in New York City, plus sales in the Greater Boston area and in Maryland are some of the recent deals heating up the Northeast.

Lightstone Completes $155M Refinancing for Moxy Chelsea

National real estate investor and developer Lightstone has closed on $155 million in financing from LoanCore Capital and KSL Capital Partners for Moxy Chelsea, a 349-key Marriott brand hotel on West 28th St. in Manhattan’s Chelsea neighborhood. The hotel opened on Feb. 14 and is the second of five Lightstone-developed Moxy hotels to open in New York City.

HFF Closes Three-Property Hotel Portfolio in Greater Boston 

Holliday Fenoglio Fowler L.P. (HFF) has closed a three-property, recently renovated hotel portfolio totaling 433 rooms in the Greater Boston area. The portfolio comprises the DoubleTree by Hilton Hotel Boston—Milford; the Doubletree by Hilton Hotel Boston—Rockland; and the Hilton Garden Inn Plymouth. HFF represented the seller, Linchris Hotel Corporation, and procured the buyer, Jamsan Hotel Management. The HFF investment advisory team representing the seller included Managing Director Denny Meikleham, Senior Director Alan Suzuki and Director Matthew Enright.

HREC Arranges Sale of the Quality Inn & Beacon Marina Solomons, MD

HREC Investment Advisors has arranged the sale of the 59­-room Quality Inn Solomons & Beacon Marina located in Solomons, MD. HREC Investment Advisors represented the seller, Condor Hospitality Trust, during the transaction. The sale was negotiated by Kevin Hanley, SVP in the Washington DC office, Ketan Patel, managing director in the Washington DC office and Dana Weinberg, an affiliate broker in Maryland.