{"id":1004191376,"date":"2017-09-25T09:01:01","date_gmt":"2017-09-25T17:01:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004191376"},"modified":"2022-12-08T01:50:38","modified_gmt":"2022-12-08T09:50:38","slug":"hilton-garden-inn-sells-for-44m-in-portsmouth-nh","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hilton-garden-inn-sells-for-44m-in-portsmouth-nh\/","title":{"rendered":"Hilton Garden Inn Sells for $44M in Portsmouth, NH"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004191377\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg\" target=\"_blank\" rel=\"attachment wp-att-1004191377 noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004191377\" data-attachment-id=\"1004191377\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hilton-garden-inn-sells-for-44m-in-portsmouth-nh\/portsmouth_pic_for_press_release\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg\" data-orig-size=\"1008,669\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Portsmouth_Pic_for_Press_Release\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Hilton Garden Inn&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg?w=1008\" class=\"wp-image-1004191377 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg\" alt=\"Hilton Garden Inn\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg 1008w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Portsmouth_Pic_for_Press_Release.jpg?resize=768,510 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004191377\" class=\"wp-caption-text\">Hilton Garden Inn Portsmouth Downtown<\/p><\/div>\n<p>Chatham Lodging Trust has purchased the 131-key Hilton Garden Inn Portsmouth Downtown in New Hampshire, for $43.5 million, or $332,000 per guestroom. The seller, Cathartes Private Investments, had owned the property for a dozen years. Chatam funded the purchase through available cash and borrowings on its revolving credit facility.\u00a0<\/p>\n<p>Hilton Garden Inn, located at 100 High St., opened in 2006 and went through a full renovation within the last two years.<\/p>\n<p><em>\u201cPortsmouth is an extremely high barrier-to-entry market, and the city has done a fantastic job balancing growth and maintaining the integrity of this historic community,\u201d <\/em>said Jeffrey Fisher, Chatham\u2019s chief executive officer &amp; president, in prepared remarks.<\/p>\n<h2>Ideal location<\/h2>\n<p>The hotel is situated in the heart of Portsmouth, a walkable downtown area offering more than 75 restaurants, an active brewery, as well as an arts and theater scene. Also, the seaside is within a five-minute walk, and major cities such as <a href=\"https:\/\/www.commercialsearch.com\/news\/good-time-to-invest-in-bostons-growth-areas\/\">metro Boston<\/a> and Manchester are just one hour drive away.<\/p>\n<p><em>\u201cThis gorgeous property is located in the absolute center of downtown Portsmouth, a beautiful, historic, waterfront community, and is a perfect complement to the Chatham portfolio,\u201d<\/em> added Fisher.<\/p>\n<p><em>Image courtesy of Chatam Lodging Trust<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chatham Lodging Trust is the new owner of the 131-key hotel, which opened in 2006. The company purchased the property from Cathartes Private Investments. <\/p>\n","protected":false},"author":871,"featured_media":1004191377,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21751,21783,21742,10],"tags":[37648,33115,37649],"class_list":["post-1004191376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-hotel","category-investment","category-latest","category-northeast","tag-cathartes-private-investments","tag-hilton-garden-inn","tag-jeffrey-fisher"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hilton Garden Inn Sells for $44M in Portsmouth, NH - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hilton-garden-inn-sells-for-44m-in-portsmouth-nh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hilton Garden Inn Sells for $44M in Portsmouth, NH\" \/>\n<meta property=\"og:description\" content=\"Chatham Lodging Trust is the new owner of the 131-key hotel, which opened in 2006. 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