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Sheraton Hotel In Revere Acquired for $23.45M

Apr 8, 2016 | Reprints | Unlock Link

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Driftwood Hospitality Management of North Palm Beach, Florida has acquired the Four Points by Sheraton Boston Logan Airport hotel in Revere from a Wayland developer for $23.45 million.

The 3.3-acre property at 427 Squire Road contains 180 guest rooms and 3,755 square feet of meeting space, an indoor pool, the Bisuteki Japanese Steakhouse and a park-and-fly operation to Logan International Airport. It was renovated in 2013.

HFF’s Denny Meikleham and Alan Suzuki represented the seller, Logan Hospitality Assoc., a division of Wayland-based KW Development LLC. Fingerprint Hospitality LLC advised the buyer, DVI 407 Squire Road LLC, and invested in the property, which will be managed by Driftwood Hospitality.

HFF’s debt placement team led by Lauren O’Neil secured a three-year floating-rate acquisition loan through TIAA Direct.

Commercial & Industrial