(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.