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Boston & New England  + Metro Boston  + Hospitality  | 

Paceline Equity Partners Acquires Commercial Loan Secured by 247-Room Needham Sheraton

An affiliate of Paceline Equity Partners has acquired a commercial loan secured by a senior mortgage encumbering a Sheraton Hotel located in the Boston suburban area of Needham. The acquisition closed in January 2021.

Located just outside of Boston, the full-service hotel features a full slate of amenities. The hotel is located on the I-95 Corridor, within the 41-acre Needham Crossing business district.

“This commercial loan and the collateral strength of the Sheraton Needham are supported by the long-term fundamentals of the Needham submarket, which benefit from attractive local demographics and diverse demand drivers, including corporate, education, healthcare and leisure travelers,” said Sam Loughlin, CEO at Paceline. “While we have taken a conservative view of the recovery timeline for the Greater Boston area and the broader U.S. hospitality industry, this investment is supported by Paceline’s rigorous underwriting process and deep experience navigating prior hospitality cycles, and we will continue to identify attractive investment opportunities in the commercial real estate sector.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.