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Chris Bilotto Of Service Properties Trust Sells Hotel Portfolio In Cambridge For $534M
SOLD
$534,000,000
Massachusetts
See Similar DealsHotel
Sold 12/19/2025
SOLD
Chris Bilotto Of Service Properties Trust Sells Hotel Portfolio In Cambridge For $534M
40 Edwin H. Land Boulevard
See Similar DealsHotel
Sold 12/19/2025
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$28,480,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,897,189.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,531,432.43
Annual Debt Service$30,377,189.21
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