Residence Inn Danvers

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer, on an exclusive basis, the fee simple interest in the 96-room Residence Inn by Marriott Boston North Shore / Danvers (the "Property"). The Property will be delivered fully unencumbered by the existing brand and management, providing a new owner the immediate opportunity to reposition the asset with an alternative brand or execute a residential conversion.

The Property offers investors the opportunity to acquire a well-maintained extended-stay asset in the high-barrier Boston market. The Property benefits from its ideal location along Route 1 and I-95 and has a proven track record of strong historical cash flow. Beyond its current success, a new owner has significant optionality through several value-add business plans, including strategic renovations or a forward-thinking conversion to much-needed residential apartments. The residential conversion is a significantly de-risked strategy, as current ownership has already received required municipal zoning approvals for an 88-unit apartment project. These approvals and variances are validated through September 2026 by the recently signed 2024 Permit Extension Act.