Baywood Hotels acquires future site of 106-room Chelsea hotel for $3.675 million
Baywood Hotels, a nationwide hotel developer and manager, has acquired 1.05 acres at 200 Second Street in Chelsea, where Baywood will construct a new 106-room Hampton Inn by Hilton hotel, for $3.675 million. Several of Baywood's Hampton Inns have received achievement awards and national recognition. Digital Federal Credit Union provided $1.85 million of financing towards Baywood's acquisition of 200 Second Street. Burgess Properties represented the buyer, and CBRE New England represented seller 200 Second Street Limited Partnership. An existing 25,500-square-foot industrial building, which will be demolished, currently stands on the parcel.
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