Chris Bilotto Of Service Properties Trust Sells Hotel Portfolio In Cambridge For $534M
40 Edwin H. Land Boulevard
$534,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 19, 2025
AI
Service Properties Trust sold a hotel portfolio consisting of 66 hotels totaling 8,294 keys located in Cambridge, MA for a sale price of $534,000,000. The transaction reflects a per-key price of $64,384 as part of a strategic initiative to restructure the company's holdings.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $534,000,000
- Buyer: Chris Bilotto - Service Properties Trust
- Address: Hotel Portfolio
- Market: Cambridge, MA
- Total Keys: 8,294
- Price Per Key: $64,384
The sale is part of a broader effort by Service Properties Trust to offload 112 hotels for a total of $859 million to reduce $5.8 billion in debt, focusing on transitioning towards full-service, urban, and leisure-oriented properties.
Players
Waltham Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93