At a glance
- At the reported price, the deal works out to roughly $360,000 per key.
- For allocators marking Boston hotel exposure, the sale supplies a fresh per-key comp in a market the buyer describes as short on new supply, and it sets a reference point for the next downtown trade.
- Head of acquisitions Jenna Kronenfeld cited Boston's diversified demand base and high barriers to entry for new hotel supply.
EOS Investors bought the 163-key Hyatt Centric Faneuil Hall Boston, its first hotel acquisition in the city, at a price published reports put at $58.6 million.
At the reported price, the deal works out to roughly $360,000 per key. EOS Hospitality will manage the downtown Boston hotel, which sits next to Faneuil Hall and Quincy Market and opened in 2019 as an upper-upscale property.
For allocators marking Boston hotel exposure, the sale supplies a fresh per-key comp in a market the buyer describes as short on new supply, and it sets a reference point for the next downtown trade.
Head of acquisitions Jenna Kronenfeld cited Boston's diversified demand base and high barriers to entry for new hotel supply. The property joins EOS's existing Hyatt Centric hotels.
Reported by the Deals desk from Connect CRE. Published . Corrections