Hotel REIT Buys Watertown Residence Inn for $71 Million

by | Oct 4, 2018 | Commercial Real Estate News

Tags:
— Commercial Sales, Leasing, Real Estate, Consulting, and Brokering in Quincy, MA serving all the south shore including Quincy, Weymouth, Braintree, Milton, and Boston Massachusetts.

Hotel REIT Buys Watertown Residence Inn for $71 Million

Hotel real estate investment trust Summit Hotel Properties purchased a Residence Inn by Marriot in Boston suburb Watertown for $71 million, or about $473,000 per unit.

The Austin, Texas-based firm acquired the hotel from its developer, locally based Boylston Properties. Boylston broke ground on the 150-key Residence Inn, located at 564 Arsenal St., in 2015 and completed construction a year later.

The Residence Inn is Summit’s third Boston-area…

Article From: "Key Realty Commercial Real Estate News"   Read full article