Holliday Fenoglio Fowler, L.P. (HFF) announces the $11.7 million financing of the 129-key Harbor Hotel Provincetown in Provincetown, Massachusetts.

The HFF team worked on behalf of the borrower, subsidiary entities of funds managed by Linchris Hotel Corporation, to secure a seven-year, fixed-rate acquisition loan through HarborOne Bank.

“We are so proud to be a part of this opportunity, and to provide the local decision making that it takes to help Linchris’ business grow,” said Scott Sanborn, EVP of HarborOne Bank.

The Harbor Hotel Provincetown is a three-building seasonal boutique hotel offering guestrooms and suites with sweeping views of Provincetown Harbor. The property is the largest hotel in Provincetown and offers premium hotel amenities, including an outdoor pool and patio, fire pit, cabana bar, pet-friendly rooms and on-site parking for hotel guests. Dining options at the hotel include the Whaler Lounge & Restaurant and The Cabana Bar. The property’s waterfront location at 698 Commercial Street is just east of downtown Provincetown, which is the northernmost tip of Cape Cod, approximately 50 miles from Boston. Additionally, The Harbor Hotel Provincetown is less than two miles from the ferry port, where ferries deliver tourists from Boston via a short one-and-a-half-hour ride. Provincetown is a vibrant community known for its arts scene, festivals and events, and beautiful beaches, which attract more than 60,000 tourists each summer.

The HFF debt placement team representing the borrower included managing director Greg LaBine and director Martha Nay.

“Harbor Hotel will afford Linchris the opportunity to utilize their proven track record of operating efficiency to greatly improve the bottom line performance of the hotel,” Nay said. “Their ownership of Surfside Hotel & Suites down the street will further enhance this strategy through even greater economies of scale. These themes enticed HarborOne to provide Linchris with an exceptional acquisition/reposition loan, one that accomplished a smooth and timely closing.”

About Linchris Hotel Corporation

Linchris Hotel Corporation is a 30-year old hotel management company with an outstanding reputation for high-quality and first-rate service. Located a short distance from Boston in Hanover, Massachusetts, Linchris operates its own hotels as well as offers management services to 3rd party investors. For more information about Linchris Hotel Corporation or its properties, please call 781-826-8824 or log on to linchris.com.

About HarborOne Bank

HarborOne Bank is the largest state-chartered co-operative bank in New England, and serves the financial needs of consumer and business banking customers throughout Massachusetts and Rhode Island through a network of 23 full-service branches and through Commercial Lending Offices in Providence and Boston. In 2018 HarborOne was recognized by Forbes as the #1 mid-size Bank in Massachusetts.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.