Search
 

JV Deals Nearly $21M for Two Hotels

ROCKLAND, MA-Linchris Hotel Corp. and CrossHarbor Capital Partners are partnering to purchase and reflag two hotels in a combination deal.

By Ryan Clark | Updated on August 14, 2008

ROCKLAND, MA-Hanover, MA-based Linchris Hotel Corp. and Boston-based CrossHarbor Capital Partners have formed a joint venture to purchase two hotels in a combination deal with Ashford Hospitality. The company is parting with the two hotels for a combined price of $20.5 million. The joint venture is represented by Janet Krolman and Gregory Labine, directors at Boston-based Holliday Fenoglio Fowler LP. Ashford Hospitality is represented by Atlanta-based Hodges Ward Elliott.

The JV is transforming the two hotels in the process, taking a Radisson in Rockland, MA and turning it into a Holiday Inn, while morphing a Sheraton in Milford, MA into a Doubletree Hotel. The two properties were both owned by Dallas-based Ashford Hospitality and are being sold together for the $20.5 million tag. Ashford Hospitality did not respond to GlobeSt.com inquiries by deadline.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.