Boutique inn and restaurant on Cape Cod finds new owner
JLL’s Hotels & Hospitality Group closed the sale of The Waterford Inn & Spindler’s Restaurant in Provincetown, MA
BOSTON, September 14, 2022 – JLL’s Hotels & Hospitality Group announced today that it has closed the sale of The Waterford Inn & Spindler’s Restaurant, a 15-room inn and a 145-seat restaurant in Provincetown, Massachusetts.
JLL marketed the property on behalf of the seller, THG Properties, LLC, in the sale to Sawyer Realty Holdings, LLC. Sawyer Realty and its affiliate hotel management company, Meads Bay Hotel Group, own and manage 7 hotels throughout Massachusetts. Meads Bay was founded in 2021 by Jessica Rosenberg as a vehicle to manage the companies’ boutique hotel portfolio. The Waterford Inn and Spindler’s is Meads Bay’s third acquisition in Provincetown this year and is a natural addition for the company.
Set in an 1850’s Sea Captain’s mansion and renovated from 2016-2018, The Waterford Inn provides harbor views. Inn amenities include complimentary breakfast, WiFi, room service, and sparkling/still water filtration. The property includes 15 guest rooms including a two-bed inn keeper unit, a restaurant, small café, a 454-square-foot cottage and lush gardens and patio lounge seating. Opened in 2016, Spindler's Restaurant offered an inspired menu of classic, French-style cuisine with Italian soul and the freshest of Cape Cod and New England ingredients. By popular demand Spindler’s transitioned to serve Sabores de Mexico, a modern authentic Mexican cuisine full of flavor using the freshest of ingredients
The Waterford Inn and Spindler’s Restaurant are positioned a short walk from the center of town and many local amenities, including shops, restaurants, galleries, museums, festivals and beaches. In addition, the property is near Provincetown Art Association & Museum (PAAM), Provincetown Theater and Pilgrim Monument. Provincetown is one of the most desirable leisure destinations in New England, only 116 miles from Boston, 122 miles from Providence and 293 miles from New York City. The city is accessible by a variety of transportation options, including Interstates 495 and 195, Route’s 3 and 6, ferry boats departing from MacMillan Pier, Provincetown Municipal Airport and Peter Pan Bus Company.
The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki and Director Matthew Enright.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.