A Milford hotel, which was up for auction, sold for $5.9 million, according to a foreclosure deed in the Worcester District Registry of Deeds.
The hotel at 1 Fortune Blvd. in Milford, which was branded as a Fairfield Inn & Suites by Marriott at the time of the sale, was put up for auction in May by Holbrook-based auctioneer Paul E. Saperstein Co., Inc.
1 Fortune Boulevard Holdings LLC, an entity managed by Rialto Capital Advisors of Florida, bought the property in a deal closed May 17. The seller was Kana Darshan LLC, which is registered to Dilip Gandhi. Gandhi is the president of North Attleborough company RudraH Hospitality, which manages hotels in Massachusetts and Rhode Island.
The transaction is about $1.5-million higher than the hotel’s last sale, which occurred in 2006.Â
The hotel contains 73 rooms across 34,700 square feet and three stories. It is assessed by the Town of Milford at just over $3 million.
CORRECTION: An earlier version of this article incorrectly stated CWCapital, a Washington, D.C. real estate firm, purchased the hotel. In fact, it was purchased by 1 Fortune Boulevard Holdings LLC, an entity managed by Rialto Capital Advisors of Florida.
