HFF announces recapitalization of Hotel Indigo in Newton, Massachusetts
BOSTON, MA – May 10, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the recapitalization of the 191-room Hotel Indigo Boston – Newton Riverside in Newton, Massachusetts.
The HFF team represented Normandy Real Estate Partners in the recapitalization of the property with Mark Development. The property will continue its brand affiliation with Hotel Indigo.
The Hotel Indigo Boston – Newton Riverside is located 12 miles west of Boston at 399 Grove Street in the Route 128 technology corridor. The hotel is within walking distance of the MBTA’s Riverside station, which provides access to downtown Boston and is within minutes of TripAdvisor and SharkNinja’s global headquarters, NBCUniversal’s future Boston media hub and many more life science and biotechnology companies located along Interstate 95. The full-service hotel offers guests 1,621 square feet of meeting space, Bokx 109 American Prime, Bokx Café, a South Beach-style outdoor pool, fitness center, business center and complimentary shuttle service.
The HFF investment advisory team representing the seller consisted of managing director Denny Meikleham, senior director Alan Suzuki and director Matthew Enright.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years. The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting. Its focus is primarily on acquiring office and mixed-use investments located in the Northeast and Mid-Atlantic CBD and transit-oriented submarkets where it owns and operates one of the largest private real estate portfolios in the region totaling over 14 million square feet and a development pipeline of four million square feet. The firm’s deep local relationships, vertically-integrated capabilities, and diversely-experienced team give it a distinct advantage, which enables it to consistently turn under-achieving real estate into exceptional high-yielding investments.
Normandy's management platform is focused on two complementary investment strategies: i) value-add: a series of closed-end, fully-discretionary investment funds, backed by some of the world's most prestigious institutional investors; and ii) core-plus: a series of separately-managed accounts for domestic and foreign institutional investors. Normandy currently manages approximately $1.5 billion of equity capital, representing total asset value of $3.3 billion. For more information visit normandyrealty.com.
About Mark Development
Mark Development is focused on creating dynamic communities via thoughtful development. Rooted in a long history of retail-anchored projects, Mark Development is building on years of experience to create mixed-use communities that combine housing, retail, office and community uses to create a sense of place. That talented and nimble team brings a distinct vision to every project and relies on creativity to turn challenges into opportunities. For more information, please visit: markdevelopmentllc.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.