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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 November Online Hotel Business Review




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Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.