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Newton Hotel Group Adds to Portfolio with Provincetown Inn Purchase

By Steve Adams | Banker & Tradesman Staff | Sep 15, 2022 | Reprints | Print

Image courtesy of JLL

A Newton hospitality group is adding to its rapidly expanding Bay State portfolio with the acquisition of a 19th-century inn and restaurant in Provincetown.

Sawyer Realty acquired The Waterford Inn & Spindler’s Restaurant from THG Properties. The purchase price was $4.9 million, according to a Barnstable County deed.

Located in an 1850s former sea captain’s mansion, the inn includes 15 guest rooms, a restaurant, cafe and cottage.

Sawyer Realty’s hotel management affiliate Meads Bay Hotel Group was founded in 2021 and has acquired three Provincetown properties this year.

JLL Managing Director Alan Suzuki and Director Matthew Enright represented the seller in the Sept. 1 transaction.

The Waterford Inn property previously sold in March 2017 for $2.2 million according to data compiled by The Warren Group, publisher of Banker & Tradesman.

B&T Daily