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Framingham Sheraton hotel senior living facility XSS Hotels Monarch Communities

Framingham Sheraton hotel senior living facility XSS Hotels Monarch Communities
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Framingham Sheraton, which is visible from Mass Pike, sells for $15M

FRAMINGHAM The famed Framingham Sheraton Hotel and Conference Center was sold for $15 million at auction Tuesday.
People’s United Bank, which owns the first mortgage on the property, was the winning bidder of the iconic 376-room hotel that is designed to look like a castle and is visible from Rte. 9 and the Mass Pike.
“It was a buy-back by the mortgagee,” said Justin Manning, president of JJ Manning Auctioneers. “Nobody beat the lender.”
The facility could possibly remain a hotel or may be sold, said Manning.
The property, which includes the hotel and conference center, an outdoor pool and a 34,376-square-foot parking garage, was last assessed at $33.1 million, according to the Framingham Assessor’s Office. ....

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