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Medford Hyatt Place Sold to New Hampshire Hotel Group

a person holding a miniature apartment building in one hand and a set of keys in the other.

iStock photo

The 158-room Hyatt Place Boston/Medford was acquired by a New Hampshire hotel group that owns a large portfolio of hospitality properties along the East Coast.

Portsmouth-based Colwen Hotels paid $27 million for the Medford Square property, according to a Middlesex County deed filed Aug. 5. Bar Harbor Bank & Trust provided a $22 million mortgage.

The sellers were KKR & Co. Inc. and Riller Capital.

Located on an 0.8-acre parcel at 116 Riverside Drive, the 8-story, nearly 98,000 square-foot hotel was completed in 1997. It previously traded for $26.5 million in October 2021, according to data compiled by The Warren Group, publisher of Banker & Tradesman.

Colwen Hotels did not respond to a request for comment.

Commercial & Industrial