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New England Hotel Realty Completes Sale of the
Leasehold Interest in the Inn & Conference Center of Exeter at Phillips
Exeter Academy
PORTSMOUTH, NH – New England Hotel Realty (NEHR)
announced the sale of the leasehold interest in The Inn & Conference Center
of Exeter in N.H. from Inn of Exeter, LLC to HCC Exeter, LLC.
J.P. Ford, CHB, ISHC Senior Vice President acted as exclusive advisor to the
seller. The historic Georgian-style Inn is located on the main campus of the
prestigious Phillips Exeter Academy. The Inn serves the lodging, meeting,
and dining needs of the Academy’s many visitors including alumni, admission
candidates, parents, visiting teachers, lecturers, and dignitaries
throughout the year. Given its close proximity to
Interstate 95, the major north/south route; busy Route 101, the major
east/west route; and the metro Boston area, it is an ideal lodging facility
for leisure and business travelers as well. The Inn is also a popular
location for corporate retreats, meetings, and functions, and it enjoys
significant wedding business in the spring, summer, and fall.
According to J.P. Ford, “This is the third purchase for a partnership that
formed a large equity fund to buy historical and architecturally significant
hospitality properties in the New England and Mid-Atlantic regions.”
The buyer is planning a major modernization in keeping with the Inn’s
Georgian architectural details. The highly anticipated multi-million dollar
renovation will include a complete updating of the guest rooms, corridors,
lobby, meeting and function spaces, and dining facilities. The renovation
will also introduce modern technology to the venerable inn, including
wireless Internet access and plasma screen televisions in the guest rooms,
and state-of-the-art meeting and function facilities.
New England Hotel Realty, (NEHR) is the highest volume hospitality real
estate brokerage firm in the Northeast, providing acquisition, disposition,
consulting and market research services to the lodging real estate and
lending industries for 30 years. NEHR has provided quality investment
opportunities and seller representation in hundreds of hotel transactions
representing owners of large urban center hotels, franchise properties,
classic inns and individuals and investor groups interested in identifying
opportunities that meet their acquisition specifications.
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