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Boston & New England  + Massachusetts  + Hospitality  | 

Boston’s Fairmont Copley Plaza Trades for $170M

Bethesda, MD-based RLJ Lodging Trust sold the 383-room Fairmont Copley Plaza in Boston, MA for $170 million or approximately $444,000 per key to an undisclosed buyer. The sale price represents roughly a 4.6% capitalization rate on the hotel’s 2017 projected net operating income.

The property is located at 138 St. James Ave., in the heart of Boston’s Back Bay on Copley Square. The company intends to use the net proceeds from the sale for general corporate purposes, with a focus on paying down debt.

RLJ Lodging Trust’s Ross H. Bierkan says, “The disposition of this asset is consistent with our objectives of selling non-core assets and unlocking shareholder value. We remain committed to our disposition strategy, and we look forward to announcing further asset sales as they materialize.”

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at RLJ Lodging TrustConnect With RLJ Lodging Trust’s Bierkan

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition