Finance & DevelopmentFinanceJLL's Hotels & Hospitality Group Closes the Sale of Two Fairfield Inn...

JLL’s Hotels & Hospitality Group Closes the Sale of Two Fairfield Inn Properties

BOSTON—JLL’s Hotels & Hospitality Group announced that it has closed the sale of two Marriott-branded, select-service hotels in New England. The hotels include Fairfield Inn Boston Woburn/Burlington in Woburn, Massachusetts, and Fairfield Inn Portsmouth Seacoast in Portsmouth, New Hampshire.

JLL marketed the properties on behalf of the seller, a joint venture of funds managed by Contrarian Capital Management and Waramaug Hospitality. The hotels were offered unencumbered by management.

Fairfield Inn Boston Woburn/Burlington (126 keys) and Fairfield Inn Portsmouth Seacoast (102 keys) both underwent renovations in 2015 and 2016. Both hotels offer a standard mix of traditional guestrooms, complimentary breakfast, a business center, fitness center, seasonal outdoor pool, and sundry store, as well as free on-site parking.

Fairfield Inn Boston Woburn/Burlington is located 10 miles northwest of Boston at the intersection of Interstate 95/Route 128 and I-93. In addition, Logan International Airport is located 20 minutes from the property, which is also near the Anderson/Woburn station serviced by the MBTA Lowell Line Commuter Rail and the MBTA Route 134 bus. Apart from being a short distance from the attractions offered in downtown Boston, the hotel is in the business district of Woburn near local attractions such as the Lexington Battle Green, Horn Pond Reservation, Forest Park, and Shaker Glenn.

Fairfield Inn Portsmouth Seacoast is 50 miles north of Boston and is proximate to I-95 and U.S. Route 1. The hotel is located just minutes from Pease International Tradeport, Liberty Mutual, and the Portsmouth Naval Shipyard. Additionally, the property is proximate to the city’s waterfront, Portsmouth Music Hall, 3S Artspace, Prescott Park, the Kittery Mall Outlets, and more.

The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki, Director Matthew Enright, and Analysts Emily Zhang and Miranda Guajardo.

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