Harbor by Signalry · Buy / sell deskTape 255 of 282Cited price
Public tape · 255 of 282 · 2012
May 7, 2012Historical cited · 2012
Bulfinch Hotel — Hersha acquisition
Hersha acquired the 80-room Bulfinch Hotel in Boston on May 7, 2012 for $18.2 million. Harbor PPK is $18.2 million ÷ 80. The same 8-K names May 7, the 80 rooms, and that hotel price. Use the $18.2 million hotel price, not the revolving-credit draw. The 8-K names Grand Prix Bullfinch LLC as seller — not a Harbor party. Filing names Boston — Harbor will not invent a Back Bay lock. Courtyard Westside stays off until its close paper names month, a hotel price, and keys together. Hotel Oceana stays off until a filing names keys with a hotel price. TownePlace Suites Sunnyvale stays off until one paper names a calendar month, a hotel price, and keys together. Parrot Key stays off until one paper names month, a hotel price, and keys together. Holiday Inn Express Chester stays off until a filing names a calendar month, a hotel price, and keys together. Hyatt Place King of Prussia stays off until one paper names month, a hotel price, and keys together. Hersha’s February 2010 Times Square Hampton, Candlewood, and Holiday Inn Express line stays combined. Holiday Inn Express 29th Street stays off as a remaining-interest buyout. The May 5, 2011 paper’s 32 Pearl Street $28.3 million line names a hotel price without keys. Hersha’s 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Not Hersha’s 2016 Envoy Hotel $112.5 million / 136 tape, not Hersha’s 2016 Hawthorn Suites Franklin $8.9 million / 100 tape, not RLJ’s 2021 AC Hotel Boston Downtown $89.0 million / 205 tape, and not Ashford’s 2025 Courtyard Boston Downtown $123.0 million / 315 tape. Older than the 2025–26 blotter cut.
$18.2M
Cited consideration · 80 keys · $228k / key
Hersha 8-K: $18.2 million for the 80-room Bulfinch Hotel in Boston. Boston independent — not an Envoy PPK and not a suburban Hawthorn PPK.
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
Tape
$18.2M
$227,500 / key · 80 keys
Worksheet
$24.8M
$310,404 / key · Harbor defaults
Gap
+36%
Boston · worksheet vs tape PPK
Hersha 8-K: $18.2 million for the 80-room Bulfinch Hotel in Boston. Boston independent — not an Envoy PPK and not a suburban Hawthorn PPK.
Boston independent. Hersha bought the 80-key house on May 7, 2012 for $18.2 million (May 11, 2012 8-K). The 8-K names Grand Prix Bullfinch LLC as seller — not a Harbor party. Filing names Boston — Harbor will not invent a Back Bay lock. Use the $18.2 million hotel price, not the revolving-credit draw. Not Hersha’s 2016 Envoy Hotel $112.5 million / 136 tape and not Hersha’s 2016 Hawthorn Suites Franklin $8.9 million / 100 tape.
Pebblebrook often names price and cap rate on individual lifestyle hotels. Harbor points at the filing habit rather than freezing one year’s number as a permanent fact.