The Hyatt House Bridgewater at 530 Route 22 East in Bridgewater — Courtesy: HFF
By Joshua Burd
A regional hotel operator has acquired a 128-room Hyatt property in Bridgewater, in a transaction arranged by brokers with HFF.
The capital markets firm on Tuesday announced the sale of the Hyatt House Bridgewater, an all-suite hotel at 530 Route 22 East. Gulph Creek Hotels purchased the property from an institutional seller for an undisclosed price.
The HFF team of senior managing directors Daniel C. Peek and Kevin O’Hearn, Managing Director Denny Meikleham, senior directors Alan Suzuki and KC Patel and Director Matthew Enright represented the seller and procured the buyer. Meantime, HFF directors Patrick Keefe and Matthew Pizzolato worked on behalf of the new owner to secure a seven-year, fixed-rate acquisition loan and source a joint venture equity partner.
The firm marketed the hotel as part of a three-property Northeast hotel portfolio, according to a news release. Served by major highways, including interstates 287 and 78 and Route 202, the Bridgewater property comprises one two-story building and five three-story buildings with one- and two-bedroom suites featuring kitchens, separate living space, bedrooms and work areas.
The hotel benefits from the area’s concentration of pharmaceutical and financial services companies, HFF noted, while also citing the region’s strong educational base with Rutgers University, Princeton University and others located nearby.
