The Whitney Hotel Boston on Charles Street has been acquired by an affiliate of Egeria Group for $57 million, The Boston Globe first reported after a Suffolk County deed was filed last Thursday, Oct. 12.
The 65-room hotel at 170 Charles St. was developed by Boston-based developer, Related Beal, and is operated by Hersha Hospitality Management of Harrisburg, Pa. The building comprises the renovated John Jeffries House, which was built in 1908 as a dorm for Mass Eye and Ear nurses before serving as a 46-room bed and breakfast run by the hospital until 2016, along with a larger addition that sits on the adjacent site of a former parking lot.
The Egeria Group, an Amsterdam-based capital management firm. also owns the building across the street at 151-151A Charles St., which is the longtime home of Beacon Hill Cleaners, along with six residential units above it. Occupants of the building were abruptly vacated last December after an emergency evacuation of the premises was issued, which Egeria alleged stemmed from illegal basement excavation at the adjacent building at 149 Charles St.
Charles and Cambridge Corner LLC, a subsidiary of the Egeria Group, an Amsterdam-based capital management firm, also purchased 151-151A Charles St. as part of a portfolio, which also contained 153-159 Charles St., including the building that is home to CVS Pharmacy at 155 Charles St. at the corner of Charles and Cambridge streets, from Atlantic Capital Partners in January of 2022.
“We are proud to acquire this trophy hotel on Beacon Hill. Boston Realty Advisors brokered the sale and connected both parties,” according to a statement from Egeria. “We are working with the seller on a smooth transition and look forward to preserving the Whitney’s traditions in collaboration with the surrounding community. We are not planning any meaningful change with the hotel or its management. The acquisition of the Whitney was decided upon independent from our holdings across the street. The redevelopment plans for the CVS building remain in the early design stage and results will be shared with the neighborhood as they mature.”