Copley Square Hotel Sells For $66M
One of Boston’s oldest hotels has a new owner.
The Copley Square Hotel, in operation since 1891, sold Nov. 4 for $66M, according to Suffolk County land records. Hawkins Way Capital purchased the 143-room hotel, which JLL had marketed on behalf of the financial services firm Barings. The Los Angeles-based buyer’s hotel portfolio also includes a dual-branded Marriott under construction in Oakland.
The hotel at 47 Huntington Ave. has nearly 12K SF of retail, 1,500 SF of event space and a fitness center. It is blocks from Newbury Street, Copley Square and the Prudential Center.
“Buyer interest in the Copley Square Hotel was extremely competitive, driven by the strength of the Boston lodging market and the numerous value-add opportunities buyers saw in the property,” JLL Managing Director Denny Meikleham said in a statement.
Meikleham, along with JLL Senior Director Alan Suzuki and JLL Director Matt Enright, led the firm’s capital markets team on the sale.
The Back Bay submarket has been active with hotel development in recent months. The Four Seasons One Dalton opened earlier this summer, the Raffles Boston Back Bay Hotel & Residences broke ground in September, and a yearlong modernization of Boston’s original Ritz-Carlton will result in the Newbury Boston, a 286-room boutique hotel across from the Boston Public Garden slated to open in spring 2020.