Refinancing secured for The Copley Square Hotel, a FOUND Hotel, in Boston
JLL’s Hotels & Hospitality group represented Hawkins Way Capital, LLC in refinancing for the boutique hotel
BOSTON, Nov. 30, 2023 – JLL’s Hotels & Hospitality group announced today that it arranged refinancing for The Copley Square Hotel, a FOUND Hotel, the 164-key boutique hotel with over two stories of F&B retail space in Boston, Massachusetts.
JLL worked on behalf of the borrower, Hawkins Way Capital, LLC.
The Copley Square Hotel, a FOUND Hotel, is a seven-story boutique hotel managed by FCL Management. Following its recent renovation in April 2022, this historic building seamlessly blends modern sophistication with timeless charm. The select service hotel features 164 expertly designed guest rooms and studios, a state-of-the-art fitness center, communal kitchen, on-site laundry services, valet parking and restaurant/bar areas.
Located on Huntington Ave. and Exeter St., the hotel is ideally situated within Boston’s Back Bay submarket. The property is proximate to the city’s most popular tourism and business demand generators, including the Hynes Convention Center, world-famous Fenway Park, Newbury Street, Prudential Center, Boston Common and Public Garden.
Greater Boston is one of the top performing lodging markets in the U.S., trailing only New York, Oahu, Miami and San Diego in revenue per available room. The market benefits from a diverse set of lodging demand generators including healthcare, technology, finance, government, education as well as tourism and conventions. Strong market fundamentals contribute to consistently high occupancies and average daily rates.
The JLL team was led by Executive Vice President Mike Huth, Senior Director Amy Lousararian, Senior Associate Maddie Blount and Managing Director Brandon Smith.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-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.
FCL Management is a national operator and manager of select, full-service, boutique, independent and branded hotels including FOUND Hotels, AC by Marriott, Best Western, Residence Inn by Marriott and Sheraton. Across their rapidly growing portfolio, FCL Management leverages custom revenue management strategies and an owner mindset to consistently improve operating performance and maintain high quality guest experiences. Their seasoned team of hospitality executives provides partners with a full range of services, including sales, development, accounting, and food and beverage.
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About Hawkins Way Capital
Hawkins Way Capital (“HWC”) is a vertically integrated real estate company with over $2.5 billion of assets under management focused on value-add and opportunistic investments across various asset classes and geographies. HWC owns and operates 26 hotel, student housing and multifamily assets comprised of approximately 5,000 rooms in 15 cities. HWC manages its portfolio in-house and employs a team across a variety of disciplines including acquisitions, property management, asset management and accounting. The Company’s disciplined owner-operator approach leverages its substantial investing experience and extensive network to execute strategies that create long-term value.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.