BOSTON – FinanceBoston has arranged a $5,470,000 senior debt loan for the acquisition and renovation of a 10-bedroom Boutique Hotel located in the heart of Nantucket’s Downtown Historic District.
The financing will enable the sponsor to launch the property as a guest house for the Summer 2025 season while concurrently preparing for an extensive renovation in the fall. The property, built in 1812, was operated as a guest house for more than 100 years before closing its doors in 2022. The project was creatively financed, providing flexibility to execute a phased value-add strategy aligned with the sponsor’s track record in the Nantucket market.
“This is a prime Nantucket lodging opportunity in one of the country’s most desirable vacation destinations,” said Alex Blake, Senior Associate at FinanceBoston. “We look forward to seeing this property restored as a boutique hotel and contribute to the island’s lodging options.”
FinanceBoston, a real estate capital advisory firm, provides real estate operators and developers with tailored capital solutions for acquisitions, developments, and refinances. Founded in 2004, FinanceBoston has earned a loyal client base that continuously relies on the firm’s creative capital advisory solutions for both debt and equity needs.
