Westborough hotel sells for $7.2M as part of nine-property portfolio
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A 109-room Sonesta hotel in Westborough sold for $7.2 million.
A 109-room hotel property in Westborough sold for just over $7.2 million in a deal closed Friday, according to the Worcester South District Registry of Deeds.
The Sonesta ES Suites Boston Westborough, located at 25 Connector Road, sold as part of a $124.6 million portfolio deal including nine hotels across the country. The buyer was PEG Cos., a Utah-based developer specializing in hotels.
The seller of the Westborough hotel was HPTMI Properties Trust, an entity registered to the address of The RMR Group, a commercial real estate agency headquartered in Newton.
HPTMI Properties Trust has owned the property, which spans 12 acres, since 1996, according to the Town of Westborough’s assessors’ database. HPTMI bought it for more than $9 million in 1996, marking a nearly $2 million loss in Friday’s sale.
The other hotels included in PEG Cos.’ portfolio purchase are scattered around the country in New Jersey, Pennsylvania, Georgia, Texas, Florida, and Washington. At 73,422 square feet and 109 rooms, the Westborough Sonesta was the smallest of the nine hotels in the portfolio, according to real estate database CoStar.
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