The Venerable 273-key Hotel is Expected to Undergo a Comprehensive Renovation
BOSTON, MASSACHUSETTS (April 4, 2018) — The owners of Taj Boston, a partnership comprised of Highgate, Eastern Real Estate, New England Development, Rockpoint Group, and Lubert-Adler, announced today the recapitalization of the 90-year old, 273-room Taj Boston Hotel with the addition of ICONIQ Capital LLC. The existing partnership that acquired the landmark hotel in July 2016 retains an interest in the asset. Hodges Ward Elliott served as advisor to the ownership group on the recapitalization.
It is further expected that the go-forward partnership,together with the hotel’s management team, will execute a major capital improvement project, including a comprehensive renovation of the guestrooms, public areas and food and beverage outlets. To date, the existing partnership has engaged a world-class team of architectural and interior designer firms, consultants and engineers to develop a compelling vision for re-invigorating this prominent Boston hotel.
Located at 15 Arlington Street, Taj Boston is central to the Back Bay skyline and sits on the Boston Public Garden, adjacent to the city’s premier retail district.