| 
Columbus Sussex Corp. has acquired the 466-key Boston Quincy Marriott from Sunstone Capital.
Square Mile Capital Management and J.P. Morgan Chase provided $75 million in financing for the acquisition and future renovations.
Located in the 1.6-million-square-foot Crown Colony Park, the Marriott was developed in 2000 by The Flatley Co. and last sold in 2007 to Sunstone Capital for $119 million. The hotel includes ground-floor restaurants, a fitness center, a business center, 16,000 square feet of renovated meeting space and an indoor swimming pool.
“This transaction presented a compelling opportunity for Square Mile to expand its exposure in the Boston market, which is one of the strongest lodging markets in the country. Boston Marriott Quincy has historically outperformed its competitive set, and we view the asset’s location in Quincy directly off of I-93 as a significant advantage,” Michael Kusy, Square Mile associate, said in a statement. “We are confident in the ability of Columbia Sussex, which is a repeat borrower of our firm and among the largest and most effective hotel owner-operators in the country, to enhance the property’s performance.”
Crestview Hills, Kentucky-based Columbus Sussex owns a hotel portfolio totaling approximately 13,000 rooms in the U.S. and St. Maarten.
