Iconic Framingham Sheraton Hotel Headed To Auction

Framingham MA

18 November, 2020

4:26 PM

Description

FRAMINGHAM, MA — The Framingham Sheraton, with its iconic medieval architecture, is headed to the auction block. The 376-room Sheraton will be up for sale in a Dec. 15 auction, according to the Boston-based Jerome J. Manning & Co. auction house. The hotel was built in the early 1970s, and was most recently bought in 2011 for $27.2 million, according to property records. The hotel carries an assessed value of $33.1 million. A major renovation of the hotel was completed in 2014. The hotel also contains a conference center and the Postern Grille restaurant. Marriott owns the Sheraton brand, but the company could not be reached for comment on Wednesday. The Chicago-based property management company Waterton previously owned the hotel, but it was sold recently to AP WCP Framingham LLC, which shares an address with the Los Angeles-based investment company Ares Management Corp. The Tudor-style Sheraton is one of several built across the Northeast. The original hotels were called Sheraton Tara, and can still be seen nearby in Braintree and Nashua, NH.