Sale of Hampton Inn in Portsmouth, New Hampshire closed by HFF
BOSTON, MA – March 31, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Hampton Inn Portsmouth Central, a 125-room hotel located off the Spaulding Turnpike in Portsmouth, New Hampshire.
HFF marketed the property on behalf of the seller, Mercury Investment Co. Giri Hotels purchased the asset for an undisclosed amount, with the acquisition financed by Kennebunk Savings, a full service mutual savings bank with offices in Rockingham and Strafford Counties and throughout Southern York County, Maine. The property is unencumbered by management.
The Hampton Inn Portsmouth Central is located at 99 Durgin Lane, adjacent to and visible from the Spaulding Turnpike, and close to the Interstate 95 interchange in Portsmouth. Local demand drivers include downtown Portsmouth; Pease International, a 3,000-acre community home to more than 250 companies and the Portsmouth International Airport; the University of New Hampshire; and The Kittery Outlet Mall. The hotel offers guests complimentary breakfast, complimentary shuttle service, an indoor pool and whirlpool, sports court, fitness room, business center and hospitality room.
The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.
About Mercury Investment Co.
Mercury Investment Co. is a national real estate investment group with interests in hotels, multi-family real estate, real estate development and office properties. www.mercuryinv.com
Giri Hotel Management Company was founded in 2004. It started with one hotel in MA and expanded to ME, CT and NH. Currently the Giri portfolio consists of 17 hotels throughout New England including two new hotels under construction. The team at Giri is focused on providing exceptional value and customer service to its guests and is committed to the enrichment of the staff at each location so they can provide such service. Over the years Giri has facilitated a culture of fairness, equality and career advancement opportunities for all. Giri is excited for the addition of the Hampton Inn Portsmouth to its portfolio.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.