CB RICHARD ELLIS/NEW ENGLAND BROKERS SALE OF HOLIDAY INN WEST

PORTLAND, MAINE — CB Richard Ellis/New England has brokered the sale of the full-service Holiday Inn West located at 81 Riverside Street in Portland. The 200-room hotel was sold for an undisclosed price to Bangor-based Lafayette Hotels, an owner/operator of hotel facilities throughout Maine, New Hampshire and Michigan. Built in 1965, the two-story Holiday Inn West features an indoor swimming pool, a fitness center, an on-site restaurant and 7,000 square feet of meeting space. Situated immediately adjacent to I-95 in Portland, the property offers superior access and visibility and is located 3 miles from downtown Portland. The Holiday Inn by the Bay also features the largest hotel conference facility in Maine. The CBRE team of Dave McElroy and Scott Hutchinson of CB Richard Ellis/New England represented the seller, Harper Hotels, and procured the buyer in the transaction. The team also facilitated the recent sale of Harper Hotels’ Holiday Inn by the Bay, also in Portland, in early May.