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Colliers International Arranges $40M Refinancing For Boston’s Lenox Hotel

Aug 14, 2013 | Reprints | Unlock Link | Print

Colliers International has arranged $40 million in financing for Boston’s Lenox Hotel.

Colliers worked on behalf of Saunders Hotel Group of Boston to secure two notes from People’s United Bank for a total commitment of $40 million. The new financing provides Copley Square’s 12-story, boutique hotel with a $37.5-million, 15-year, fixed-rate first mortgage and a $2.5-million revolving-credit facility.

Colliers’ Boston-based capital markets team was led by Co-Chairman Kevin Phelan and Senior Vice President John Broderick.

Commercial & Industrial