Jones Lang LaSalle Incorporated: $11M Refinance Secured for Historic Nantucket Inns

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BOSTON – September 22, 2022 –JLL Capital Markets today announced that it has arranged an $11 million refinancing for Anchor Inn and Greydon House in Nantucket, Massachusetts.

JLL worked on behalf of the borrower, Faros Properties, to secure a fixed rate loan through Tristan Pierce of HarborOne Bank.

Originally built in 1806, The Anchor Inn is a 12-key bed-and-breakfast located at 66 Center St. Greydon House, also a historic property built in 1850, is a 20-key luxury hotel located at 17 Broad St Combined, the two hotels offer 32 rooms and top-notch restaurants in Via Mare at Greydon House.

The JLL Capital Markets team representing the borrower was led by Principal Jonathan Schneider.

“New England’s leisure markets, including Nantucket, have seen the strongest lodging fundamentals on record over the past two seasons,” Schneider noted. “Flexible labor and pent-up demand for leisure, combined with extremely high barriers to entry, have made independent hotels in these sought-after markets extremely attractive in the capital markets for lenders and investors. Nantucket is generally considered most desirable leisure destination in the region.”

JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment sales advice, debt placement, equity placement or a recapitalization. The firm has more than 3,700 capital markets specialists worldwide with offices in nearly 50 countries.

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Disclaimer

Jones Lang LaSalle Inc. published this content on September 22, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on September 23, 2022 11:40:08 AM UTC.

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