Torrington Plans Residential Conversion of Danvers Residence Inn
JLL Capital Markets arranged the $13.5-million sale and financing of the 96-room Residence Inn Boston North Shore/Danvers, an extended-stay hotel with approved conversion rights to an 88-unit multifamily residential community. The property is located at 51 Newbury St. in…
JLL Capital Markets arranged the $13.5-million sale and financing of the 96-room Residence Inn Boston North Shore/Danvers, an extended-stay hotel with approved conversion rights to an 88-unit multifamily residential community. The property is located at 51 Newbury St. in…
BELLINGS Intelligence Score: 12
Why it matters
This is a routine commercial real estate transaction involving a hotel-to-residential conversion with typical financing; it has limited market impact and relevance beyond the immediate parties.
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Torrington Plans Residential Conversion of Danvers Residence Inn
JLL Capital Markets arranged the $13.5-million sale and financing of the 96-room Residence Inn Boston North Shore/Danvers, an extended-stay hotel with approved conversion rights to an 88-unit multifamily residential community. The property is located at 51 Newbury St. in…