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Boston U Sells Hotel to Sage Hospitality

From BU Today
Boston U Sells Hotel to Sage Hospitality
BU sold the four-star Hotel Commonwealth this week to a partnership of the Denver-based Sage Hospitality and the investment firm Fundamental Advisors LP for $79 million in a deal that includes the leases for hotel tenants, notably its restaurants, and the parking lot.
 
The sale capped an era in which many observers applauded the influence of the 10-year-old hotel, with its 1,500-square-foot luxury suite and room amenities—red roses, artisanal cheese trays, chocolate truffles—on Kenmore Square’s formerly seedy character.
 
Sage owns and runs hotels under such brands as Westin, JW Marriott, Sheraton, Doubletree, and Hilton. It also runs its own independent hotels and several restaurants. Click here for the full story.


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