BOSTON—JLL’s Hotels & Hospitality Group announced that it has closed the sale of a portfolio of three recently renovated independent hotels totaling 169 keys in New England markets. JLL represented the seller, Wardman Group, in the sale. The portfolio was offered unencumbered by brand and management.
The first property in the portfolio is the Ocean Gate Resort, a 65-key resort in Southport, Maine. The resort has recreational amenities, including an outdoor heated pool and hot tub, canoes and kayaks, a miniature golf course, fire pits, bikes, and tennis and basketball courts. Positioned on 33 acres, the property is less than 10 minutes from downtown Boothbay Harbor, 75 minutes from Portland, and three hours from Boston. The area is known for kayaking, boat tours, sailing, weddings, the Coastal Maine Botanical Gardens, and local seafood.
Next is the 57-key Seven Hills Inn in Lenox, Massachusetts. Completed between 1910 and 1950, the hotel is situated on 27 acres and maintains the same style throughout the property’s three buildings, which include the Manor House, Carriage House, and Terrace House. The inn offers amenities including an outdoor pool, life-size chess, a sitting area with firepits, recently renovated guestrooms, and two food and beverage outlets. Located around 2.5 hours from Boston and New York City, the area is near museums, the Tanglewood music center, theatres, historic homes, and hiking.
The third hotel is The Lodge at Mount Snow, which totals 47 keys, in West Dover, Vermont. This ski lodge offers an indoor hot tub, outdoor pool, fitness center, and the Trailhead Tavern. The property is located on 1.25 acres at the base of Mount Snow. The area is also known for hiking, biking, and motorcycling during the warmer months. Positioned less than 15 minutes from historic downtown Wilmington, which is known for dining options, a flea market and shopping, and the Molly Stark State Park, the destination is reachable from both Boston and New York City.
The JLL Hotels & Hospitality team representing the seller was led by Managing Director Alan Suzuki, Director Matthew Enright, and Analyst Emily Zhang, with local support from Senior Managing Director Jaime Fink and Managing Director Brooks Murphy.
“Vacation destinations throughout New England have performed exceptionally well post-pandemic. We were encouraged by the strong interest from both local and national investors for these unique and well-located boutique inns and resorts,” said Suzuki.
