BOSTON—JLL Capital Markets announced today that it has arranged an $11 million refinancing for the Anchor Inn and Greydon House in Nantucket, Massachusetts.
JLL worked on behalf of the borrower, Faros Properties, to secure a fixed-rate loan through Tristan Pierce of HarborOne Bank.
Originally built in 1806, the Anchor Inn is a 12-key bed-and-breakfast. Greydon House, also a historic property that was built in 1850, is a 20-key luxury hotel. Combined, the two hotels offer 32 rooms and dining at Via Mare at Greydon House.
The JLL Capital Markets team representing the borrower was led by Senior Director Jonathan Schneider.
“New England leisure markets, including Nantucket, have experienced the strongest ever lodging fundamentals over the course of the last two seasons” Schneider noted. “Flexible work and pent-up leisure demand, combined with extremely high barriers to entry, have made independent hotels in these sought-after markets extremely attractive in the capital markets to lenders and investors alike. Nantucket is typically regarded as the most desirable leisure destination in the region.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s local market and global investor knowledge deliver solutions for clients—whether investment sales 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.