The Newbury Boston Update 06/07/16

Investors buying Taj Boston hotel building


The Boston Globe reports that New England Development and Eastern Real Estate are leading a group of investors that will buy the Taj Boston hotel building at 15 Arlington Street in Downtown Boston. A final sale price has not been disclosed. Indian Hotels Company, which currently owns the building, previously stated that it would not sell the building for less than $125 million.

 

Indian Hotels Company purchased the Taj Boston hotel building in 2007 for $166 million and announced its plan to sell it in early May of this year. Plans have not yet been released for how the buyers intend to improve the building.    

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