Business & Finance

HFF Closes Sale of Courtyard Boston Logan Airport Hotel in Boston, Massachusetts

NEW YORK, N.Y. February 21, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Courtyard Boston Logan Airport, a 351-room, full-service, Marriott-branded hotel in Boston, Massachusetts, near Boston Logan International Airport.

HFF marketed the property on behalf of the seller, affiliates of Rockwood Capital, LLC.

Located at 225 William F. McClellan Highway, Courtyard Boston Logan Airport is situated in East Boston, 2.5 miles north of Boston Logan International Airport and within five miles of downtown Boston. Additionally, the property is located along Route 1A, which connects to downtown Boston via the Sumner and Ted Williams Tunnels. The hotel was built in phases and comprises 12-story and 11-story guestroom towers connected by a two-story, multi-use building. The hotel features 2,257 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and Brinkley’s Restaurant & Lounge.

The HFF investment sales team was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and directors KC Patel and Alan Suzuki.

“The Logan Airport lodging market continues to be one of Boston’s best-performing submarkets,” Meikleham said. “Courtyard Boston Logan Airport has consistently out-performed other airport hotels because of its location, quality, Marriott affiliation and management team. HFF has a long-term relationship with both the buyer and seller and viewed this acquisition as a ‘win-win’ for both entities.”

About Rockwood Capital

Rockwood Capital, LLC is a real estate investment management firm, founded in 1995 that provides equity capital combined with real estate operating expertise for repositioning, recapitalization, development and redevelopment of retail, hotel, residential, office and research and development space in key markets throughout the United States. Rockwood and its principals have invested on behalf of their clients approximately $23.2 billion of real estate through ten value-add vehicles and eight separate accounts. Today, Rockwood is an 82-person real estate investment firm with offices in New York, New York; San Francisco, California; Los Angeles, California; and Seoul, Korea, that manages a portfolio of approximately $3.6 billion of net equity value in approximately $8.8 billion of gross real estate value. Rockwood’s investors include public and private pension funds, endowments, foundations, insurance companies, fund of funds, high net worth individuals and family offices. Learn more at rockwoodcap.com.

About HFF

Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Coming Up In The May Online Hotel Business Review




Feature Focus
Eco-Friendly Practices: The Value of Sustainability
The hotel industry continues to make remarkable progress in implementing sustainability policies and procedures in their properties throughout the world. As a result, they continue to reap the benefits of increased profitability, enhanced guest experiences, and improved community relations. In addition, as industry standards are codified and adopted worldwide, hotels can now compare how their operations measure up against their competitors in terms of sustainable practices and accomplishments. This capacity to publicly compare and contrast is spurring competition and driving innovation as hotels do not wish to be left behind in this area. Water management and conservation is still a primary issue as population growth, urbanization, pollution and wasteful consumption patterns place increasing demands on freshwater supply. Water recycling; installing low-flow fixtures; using digital sensors to control water usage; and even harvesting rainwater are just a few things that some hotels are doing to preserve this precious resource. Waste management is another major concern. Through policies of reduce, reuse and recycle, some hotels are implementing “zero-waste” programs with the goal of substantially reducing their landfill waste which produces carbon dioxide and methane gases. Other hotels have established comprehensive training programs that reinforce the value of sustainability. There is employee engagement through posters and quizzes, and even contests are held to increase innovation, sensitivity and environmental awareness. Some hotels are also monitoring a guest’s energy usage and rewarding those who consumed less energy with gifts and incentives. The May issue of the Hotel Business Review will document how some hotels are integrating eco-friendly practices into their operations and how they and the environment are benefiting from them.