HHT Buys Envoy Hotel For $112.5M

Envoy Hotel

Philadelphia-based Hersha Hospitality Trust has acquired the Envoy Hotel in Boston’s Seaport District from developer Norwich Partners.

The sales price was $112.5 million or $827,205 per room, according to David Leatherwood, CEO of Norwich Partners.

The 136-room property at 70 Sleeper St. opened in June 2015 and includes the Outlook Kitchen and Bar and the 4,000-square-foot Lookout rooftop bar.

Norwich Partners acquired the parcel in December 2011 for just under $9 million from MS Seaport Block A LLC.

Hersha in January acquired the 121-room Best Western Plus Hotel on Alewife Brook Parkway in Cambridge for $29.8 million with plans for capital improvements. HHT has a portfolio of 115 hotels nationwide, including eight in Greater Boston.

This story has been updated since it was originally published.

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HHT Buys Envoy Hotel For $112.5M

by Banker & Tradesman time to read: <1 min