BOSTON— At a price of $19.6 million, or $245,000 per key, Innkeepers USA Trust has acquired the Bulfinch Hotel in downtown Boston. The seller was not disclosed. Innkeepers funded the acquisition of the 80-room hotel by borrowing on its unsecured line of credit. Located at 107 Merrimac St., the hotel, which is modeled after New York’s Flatiron building, opened in late 2004 following a renovation project and a three-story addition. Previously, the property was a 100-year-old industrial building. Innkeepers Hospitality Management, Inc. will now operate the hotel.
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