Residence Inn Framingham/Image courtesy of JLL

The new owner of a pair of suburban Boston hotels that cater to business travelers plans to renovate the properties following a $26.6 million acquisition.

JNR Management Inc. of Newton retained Residence Inn by Marriott as franchisee after this week’s acquisition of the properties, totaling 221 rooms, from APEX Capital Investments Corp.

The portfolio includes the 125-key Residence Inn Boston Framingham, which sold for $15.8 million, and the 96-key Residence Inn Boston Norwood/Canton, which sold for $10.8 million.

The Framingham property at 400 Staples Drive previously sold for $18 million in 2016, according to Norfolk County Registry of Deeds records. The Norwood property at 275 Norwood Park South previously traded for $14 million in 2016.

The hotels will remain open during renovations that will include updates to all guest rooms and common areas.

Both properties include extended-stay suites with separate living and sleeping areas and are designed to appeal to business travelers in the Metrowest and Route 128 south submarkets, according to JLL, which represented the seller.

Norwood, Framingham Hotels Sold to Newton Developer

by Steve Adams time to read: 1 min
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