Portland Hotel Sold To Virginia Investment Trust

The Residence Inn Portland Downtown/Waterfront hotel has been sold to a large real estate investment trust based in Virginia for an undisclosed sum. The buyer, Richmond-based Apple Hospitality REIT Inc., is a publicly traded company that owns and operates 236 hotels in 33 states, according to its website. The seller was New Hampshire- and Florida-based Norwich Partners, which develops and invests in commercial real estate, primarily hotels in New England and Florida, according to Holliday Fenoglio Fowler L.P., a Boston-based commercial real estate broker that represented Norwich in the sale transaction. Completed in 2009, the Marriott-branded hotel, at 145 Fore St.

Sections:  u.s.   
Topics:  Maine   Cumberland County   Portland   
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