The Press Hotel in Portland, Maine

[Brian Slowik]

Investment Info:

Other commercial investment investment in Logan.

Limited Partner/Investor in The Press Hotel, located on the corner of Exchange and Congress Streets in the Old Port District, features 110 thoughtfully appointed luxury guestrooms, including a Penthouse Suite with rooftop access and 360-degree views of the city; four private function rooms and is home to UNION, its 65-seat restaurant by Head Chef, Christian Bassett. Each guestroom has design inspired by a 1920s writer's office including a vintage-styled journalist desk, playful newsroom references throughout and floor to ceiling marble bathrooms. An iconic front-desk "letterpress art wall" welcomes guests to its front desk and to its Inkwell lobby bar featuring hand crafted cocktails. The hotel also has an Art Gallery featuring local artists works, open to the public, which also includes a two story signature installation piece of vintage typewriters called the SWARM, to depict the chaos of a newsroom.

https://www.marriott.com/en-us/hotels/pwmak-the-press-hotel-autograph-collection/photos/

What made you interested in investing in this type of deal?

My original tour of the vacant Portland Press Herald building with my rapid! Co-Founder piqued my interest and my familiarity with hotel stays in city of Portland.

How did you find this deal and how did you negotiate it?

The deal was originated by Co-Founder in rapid!. He and his partners in Fathom Properties and Management offered invitation only limited partner investments.

How did you finance this deal?

Cash and bank financing

How did you add value to the deal?

Investor

What was the outcome?

Successful exit in sale of Hotel to a REIT.