Claremont Cos. has acquired the Residence Inn Boston Downtown Seaport, located in Boston’s neighborhood of Fort Point. HFF represented the seller, Norwich Partners, in the transaction.
Boston Wharf Co. built the property, located at 370 Congress St., in 1901 as The Stillings Building. The asset was then redeveloped as an adaptive reuse project in 2013, keeping the historic architectural details and incorporating the brick, post and beam decor. The hotel offers 120 loft-style suites that include 12-foot ceilings, wooden beams, fully equipped kitchens, exposed brick walls and oversized windows. The hotel’s public space is wrapped around a six-story atrium topped with a glass skylight. Guest have access to amenities including:
- meeting space
- sundry shop
- business center
- fitness center
- free Wi-Fi
- two restaurants: Caffe Nero and sweetgreen
The HFF investment advisory team included Managing Director Denny Meikleham, Senior Director Alan Suzuki and Director Matthew Enright. In March, the team also facilitated the sale of the 99-key Hilton Garden Inn Freeport Downtown, in Freeport, Maine. AAM 15 Management LLC purchased the asset from Dover Properties.
“The Residence Inn—Seaport is a generational asset,” Meikleham told Commercial Property Executive. “It’s considered one of the finest historic rehabs in Boston, has one of the best guest room products in the city, is one of the most successful Residence Inn’s in the entire chain, and is located in the center of Seaport within an easy walk to restaurants, offices and the convention center. It really doesn’t get any better than that.”
Residence Inn Boston Downtown Seaport is within close proximity to the Financial District, South Station, Back Bay, Cambridge and Logan International Airport. The surrounding area has also been transformed into a 24-hour live-work-play environment and offers access to restaurants, office space, museums, art galleries and multifamily communities. Local attractions include the Boston Museum of Science, Fenway Park, Faneuil Hall Marketplace, Franklin Park Zoo and New England Aquarium.
Image courtesy of HFF