Baywood Hotels Acquires Foundry Place Hotel In Portsmouth, NH For $4.25M

Baywood Hotels has purchased a property located at 165 Deer Street in downtown Portsmouth, New Hampshire for $4.25 million. The seller, Foundry Place Hotel, completed the transaction with the assistance of Christian Stallkamp from The Boulos Company serving as their broker. The asset in question is a hotel.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $4,250,000
• Address: 165 Deer Street
• Market: Portsmouth, NH
• Buyer: Baywood Hotels
• Seller: Foundry Place Hotel
• Broker: Christian Stallkamp - The Boulos Company

Baywood Hotels plans to utilize the property to construct a new Hyatt Place hotel. This new hotel will feature 117 rooms and a café on the ground floor. Additionally, a parking garage with 51 spaces will be included in the development. The transaction also included the acquisition of 117 keys for the hotel, with a price per key of $36,325.