Sale of two Maine hotels to GL Rogers & Company closed by HFF
BOSTON, MA – May 12, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $16.933 million sale of the Hampton Inn Freeport and the Hampton Inn Waterville, two hotels totaling 158 rooms in Freeport and Waterville, Maine.
HFF marketed the hotels on behalf of the seller, The Vickery Company, LLC. GL Rogers & Company through Pendleton Point LLC purchased the assets and has retained Maine Course Hospitality Group for the management of both hotel locations.
The Hampton Inn Freeport is located at 194 Lower Main Street, directly adjacent to Interstate 295 in Freeport, about 16 miles north of Portland. Freeport is home to L.L. Bean’s flagship store and its town center is a popular outlet area for tourists and residents alike. Completed in 1999, the hotel features 77 guest rooms with 312 square feet of function space as well as a business center, fitness room, indoor pool and complimentary breakfast for guests.
Located 76 miles north of Portland, Maine, the Hampton Inn Waterville is positioned just off of exit 127 from Interstate 95 in the city of Waterville. Situated at 425 Kennedy Memorial Drive, the hotel is within close proximity to local demand drivers, Colby College and Thomas College. The 81-room property was completed in 2001 and offers hotel guests complimentary breakfast, a fitness room, indoor pool and business center. The hotel also features 1,850 square feet of function space.
The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.
About GL Rogers & Company
GL Rogers & Co. Inc. is located in York Harbor, Maine and specializes in ownership, management, and development of income producing commercial properties since 1978, which are located principally in Northern New England. Pendleton Point LLC is managed by and partly owned by GL Rogers & Co. Please visitwww.glrogers.com for more information.
About Maine Course Hospitality Group
The Freeport-based Maine Course Hospitality Group operates 18 hotels throughout New England including six Marriott and four Hilton branded hotels and three independent boutique hotels. Maine Course is known for its positive culture and tenacious work ethic. Please visit www.mchg.com for additional information.
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.