Sawyer Realty Holdings Acquires 130-Room Residence Inn by Marriott Boston Tewksbury/Andover in Massachusetts
February 6, 2019 2:28pm
(Tewksbury, MA) – February 6, 2019 – Sawyer Realty Holdings has announced the acquisition of the 130-room Residence Inn by Marriott Boston Tewksbury/Andover located at 1775 Andover Street in Tewksbury, Massachusetts.
Founded over 25 years ago, Sawyer Realty Holdings, a Newton, Massachusetts based multi-disciplinary real estate investment firm, maintains a diverse portfolio of multi-family, senior housing and hotel properties throughout Massachusetts, Rhode Island, and Maryland. The company also owns and operates five restaurants in Massachusetts under the Good N U Hospitality brand. The acquisition of the Tewksbury Residence Inn, led by Jessica Rosenberg, represents the firm’s second hotel asset, strengthening the company’s recent strategic expansion into the hospitality market.
“We are thrilled to close on our second hotel acquisition,” said Jessica Rosenberg,Acquisitions and Syndication at Sawyer Realty Holdings. “Sawyer Realty looks forward to continuing to diversify our current multifamily and hospitality portfolio.”
Located in Tewksbury, Massachusetts, the Residence Inn by Marriott supports travel needs for Andover, Lowell, Burlington, and Tewksbury markets. The three-story extended stay hotel features spacious one and two-bedroom suites fully equipped with in-suite kitchens. The hotel offers complimentary hot breakfast, convenient 24-hour market, free grocery shopping, and evening receptions for its guests.
The newly renovated hotel is conveniently located in the greater Merrimack area with easy access to Boston by the Lowell Commuter Rail, attracting business professionals attending corporate meetings, regional conferences, specialty trainings and industry certifications.
“Our company leadership has close and lengthy ties to the Merrimack Valley and greater Boston region,” said Ms. Rosenberg. “The Residence Inn is an exceptional asset and we are excited to be expanding our presence in the region and joining the Marriott family.”
The Residence Inn by Marriott will be managed by Prestige Hospitality Group of Albany, New York. Peter Coutis has been named General Manager and Scott Leatherman will serve as Director of Sales. Sawyer Realty and its hotel management team will continue active membership in the Merrimack Valley Chamber and Convention & Visitor’s Bureau, as well as other area professional and civic organizations.
The Residence Inn real estate transaction closed on January 30, 2019.
Tags: sawyer realty holdings,
residence inn by marriott boston tewksburyandover,
prestige hospitality group
Founded over 25 years ago by Principal and CEO David M. Rosenberg, Sawyer Realty Holdings LLC (Sawyer) is a multi-disciplinary real estate investment firm that has the unique ability to envision, assemble, and structure extraordinary real estate transactions. Ownership and key personnel have over 100 years of combined experience, enabling the company to evaluate transactions and develop highly effective and successful business plans. Sawyer Realty Holdings LLC structures complex real estate transactions by accessing its deep financial resources, innovative financing, longstanding relationships, and knowledge and experience in the multi-family and hospitality industries.
It’s Not a Room, It’s a Residence. With over 760 locations and twice the footprint of its next largest competitor, Residence Inn created and defined the extended stay lodging category. Approximately one third of all business travel room nights are part of an extended stay. With its unique culture and service model that recognizes the different needs of longer-stay guests, Residence Inn is optimally positioned to serve this large market segment. Its mix of suite types and strong value proposition is also appealing to family travel.
The Residence Inn is proud to participate in the company’s award-winning loyalty programs – Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest® (SPG). The programs, operating under one set of unparalleled benefits, enable members to earn points toward free hotel stays, achieve Elite status faster than ever, and seamlessly book or redeem points for stays throughout our loyalty portfolio of 29 brands and more than 6,700 participating hotels in 130 countries & territories. To enroll for free or for more information about the programs, visit members.marriott.com.
Prestige Hospitality Group (PHG) owns, develops and manages hotels and hospitality properties throughout the northeast. PHG is a full-service company providing hotel development and management services focused on people, product & performance. PHG provides operational, financial and strategic management services for a mixed portfolio of franchised and independent, full service and select service hotels. Headquartered in Albany, New York, PHG currently manages hotels in New York, Connecticut, New Jersey, Massachusetts, Pennsylvania, Michigan, and Illinois. Prestige Hospitality Group can be found on the web at www.prestigehospitality.com.
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