1 Fortune Boulevard

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Address: 1 Fortune Blvd, Milford, MA 01757, USA

Boston & New England + Hospitality

Created date: January 11, 2025

Date last updated: January 13, 2025

Fee simple interest in the lender-owned 73-room Fairfield Inn & Suites located in Milford (Boston area), Massachusetts
Available for purchase in the February 26th auction event via RealInsight Marketplace
Offered unencumbered by management and debt
Offered unencumbered of brand, with a variety of alternative branding options available for conversion
Transferred to special servicing in November 2020, and the lender completed foreclosure in May 2022
Unique operational upside in transitioning the asset out of lender control and third-party management and repositioning the asset upon completion of the PIP to better penetrate the comp set
Strong market performance with competitive set trailing-24-month RevPAR average gains of 8.5%, grossly outpacing national averages
Prime location between Boston and Providence and readily accessible via the heavily trafficked Interstate 495, with upwards of 85,000 vehicles passing the location daily
Situated approximately three miles from all Milford area corporate demand, including Waters Global Headquarters, Consiglia Construction, Milton CAT, Ardagh Group, Barker Steel, and Nitto Avecia
Proximate to all broader area demand, including New England Patriots Gillette Stadium, the Boston Marathon starting line, and Dean College
Located less than ten minutes from the 149-bed UMASS Memorial Milford Regional Medical Center, a regional healthcare destination serving more than 20 surrounding towns in Worcester, Middlesex, and Norfolk counties
Optimal time to be investing in Worcester County amidst strong economic growth in its healthcare, manufacturing, and education sectors