Hotel Commonwealth in Boston Trades for $113M

Order Reprints …

Xenia Hotels & & Resorts has actually marketed the 245-room Hotel Commonwealth in Boston’s Kenmore Square. The sales cost was $113 million. The purchaser was not divulged.

The Orlando-based realty financial investment trust fund got the hotel in 2015 for $136 million. The resort, which opened up in 2003, is located close by Boston’s Fenway Park, Boston College, Back Bay, Longwood Medical Area and Newbury Road.

“Our high-grade profile has afforded us the possibility to produce significant extra liquidity and equilibrium sheet flexibility as the COVID-19 pandemic has profoundly affected our Firm and also the accommodations sector in its entirety,” stated Marcel Verbaas, CEO at Xenia. “The sale of Resort Republic at an extremely eye-catching valuation, especially offered the existing unsure operating atmosphere, is representative of the value embedded in our profile.”

Get in touch with Xenia’s Verbaas

Register for Connect Daily National

For comments, inquiries or issues, please get in touch with David Cohen

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.