The Boston Marriott Burlington hotel is slated to sell for approximately $72 million next month to a Connecticut-based real estate investment firm.

Cornerstone Real Estate Advisors is purchasing the 30-year-old building in New England Executive Park from Bill Finard, who built the property, sources told Banker & Tradesman on condition of anonymity.

Finard, principal of Finard Properties, confirmed the property is under agreement to be sold, but would not comment further on the specifics of the sale. However, he did say he built the hotel for "significantly less" than he is selling it for. The property is being sold, he said, because he and many of his investors are considering estate planning opportunities, and this hotel sale is part of that process.

Last summer, Finard purchased Provincetown’s Harbor Hotel. He offered Banker & Tradesman a brief comparison of the two.

"We were always involved in the operations of [the hotel], but there is a Marriott template for virtually everything," Finard opined. "That means that if you have ideas or thoughts, you’re working in that Marriott template and that can be frustrating. The Harbor hotel we’re managing ourselves. It’s unflagged, which is important for [Provincetown] because it’s not a market for chains, so we have the opportunity to manage it exactly as we see fit. We’re the ones that create the concept. You really have an opportunity to put your stamp on it."

Cornerstone was founded in 1994 to manage MassMutual’s equity real estate investments. Earlier this summer, Cornerstone provided financing for Station Landing, a new, mixed-use project with residential, retail and office components in Medford. National Development and ASB Capital Management Inc., secured three separate loans, one being a fixed-rate loan placed with Cornerstone for the residential and retail portion, which includes Arborpoint @ Station Landing, 75 Station Landing and the Boston Sports Club facility.