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Sheraton Boston Needham Hotel Re-Opens Under New Management
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Sheraton Boston Needham Hotel Re-Opens Under New Management
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Affiliate of Paceline Equity Partners Acquires Commercial Loan Secured by Sheraton Needham Hotel in Boston Metro Area
February 12, 2021 GMT
DALLAS (BUSINESS WIRE) Feb 12, 2021
An affiliate of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that it has acquired a commercial loan secured by a senior mortgage encumbering a Sheraton Hotel located in the Boston suburban area of Needham, Massachusetts from a regional bank. The acquisition closed in January 2021.
The Sheraton Needham hotel is a 247-room full-service hotel with a full suite of amenities. Just outside Boston, the hotel is well located on the I-95 Corridor, within the 41-acre Needham Crossing business district home to a diverse tenant base, including office, flex/industrial, multi-family, and retail.