JLL closes sale of 114-room Ames Boston Hotel
Suffolk University is new owner of the historic hotel in the heart of the Financial District
BOSTON, September 25, 2019 – JLL announced today that it has closed the sale of the Ames Boston Hotel, a 114-room historic hotel located in the heart of Boston’s Financial District.
JLL marketed the property on behalf of the seller, Invesco Real Estate, a global real estate investment manager, and procured the buyer, Suffolk University.
The Ames Boston Hotel is centrally located at 1 Court Street in Boston’s thriving Financial District along Boston’s renowned Freedom Trail and steps from the Old State House and Faneuil Hall/Quincy Market. Originally built in 1893, the Ames Boston Hotel is listed on the National Register of Historic Places and was redeveloped into a luxury hotel in 2009.
The JLL Capital Markets team representing the seller was led by Managing Director Denny Meikleham, Senior Director Alan Suzuki and Director Matthew Enright. Ted Wheatley and Robert Webster of JLL represented the buyer in the transaction.
“This was an extremely rare opportunity for a buyer to acquire a historically significant asset in this prime location,” Suzuki said. “Interest level was very strong from both international and domestic hotel and non-hotel investors. We are happy that one of Boston’s premier luxury hotels will now be incorporated into the long-term strategic plans and initiatives of both Suffolk University and the City of Boston for providing more on-campus student housing opportunities for the thousands of students who live in Boston.”
“The 1 Court Street building expands our core downtown campus and will give our students unparalleled access to exciting living and learning experiences in the center of Boston,” said Suffolk University President Marisa Kelly. “This is a great opportunity for Suffolk and an important investment in our future, and we look forward to working closely with the city and our neighbors as we move through the community process.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $80.3 billion in real estate assets under management, 519 employees and 21 regional offices across the U.S., Europe and Asia (as of 06/30/19). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; invesco.com.