7
July
2010
July
2010
The Chesapeake Lodging Trust and the Mariott in Newton have come to a definitive agreement for the 430-room hotel at 2345 Commonwealth Avenue. They aquired the space for a total of $77.25M, which equals $180,000 per key! The agreement will be closed within the next 30 days. The hotel will operate under a 3rd party manager under its current franchise flag. This branch of the Marriott is on 11.5 acres of scenic riverfront land right on the Charles River. Its a beautiful hotel that has undergone many new renovations. Great investment for The Chesapeake Lodging Trust! For more information on this purchase please contact Epapa27@yahoo.com
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