Sale of historic hotel in Portland, Maine closes
JLL’s Hotels & Hospitality Group closed the sale of The Press Hotel in Portland, Maine
JLL marketed the property on behalf of the seller, Fathom Companies. KHP Capital Partners acquired the asset.
Once known as the Gannett Building, home of the historic headquarters of the Portland Press Herald, the building was restored as The Press Hotel, Autograph Collection featuring 110 traditional guest rooms and suites inspired by 1920’s writers offices. The hotel amenities include a fitness center, art gallery and on-site dining at UNION Restaurant featuring locally sourced New England fare and Inkwell coffee bar.
Located in the heart of Portland Maine’s historic Old Port District, the hotel is surrounded by major downtown employers, local boutiques, art galleries, coffee shops, local breweries, live music venues and countless dining options.
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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fathom Management
Fathom Companies is a fully integrated real estate development, management, and investment company focusing on exceptional properties in secondary and tertiary markets. They seek to add value to mixed-use, office, retail and hospitality facilities through thoughtful design and fastidious attention to detail. Their hospitality management branch brings decades of experience with some of the most successful brands in the industry. They aim to foster an environment of empowerment, creativity and teamwork.
About KHP Partners
KHP Capital Partners (“KHP”) is a real estate private equity firm focused on investments in the hospitality space. Headquartered in San Francisco, CA, the firm invests across the United States and Canada, generating superior risk-adjusted returns by focusing on disciplined acquisition criteria and implementing value-add investment strategies that capitalize on the firm’s deep experience in hotel operations and development. KHP is currently deploying its fifth fund in the KHP series, KHP Fund V, a $361 million fully discretionary vehicle. Since 2004, KHP’s co-founders have raised over $1.13 billion to invest in hospitality real estate. For more information, please visit www.khpcapitalpartners.com.