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BOSTON — Hersha Hospitality Trust has acquired the Envoy Hotel, located at 70 Sleeper St. in Boston’s Seaport District, on a fee simple basis. Norwich Partners sold the 136-room boutique hotel for $112.5 million. Completed in June 2015, the full-service hotel features two food and beverage outlets, Outlook Kitchen + Bar and Lookout Rooftop Bar. The AAA-rated hotel is part of Marriott’s Autograph Collection.
The acquisition was funded with 1031 exchange proceeds from Hersha’s sale of seven limited-service assets in Manhattan to the company’s joint venture with an affiliate of Cindat Capital Management Limited. Denny Meikleham and Alan Suzuki of HFF represented the seller in the transaction.