NEW YORK CITY—JLL’s Hotels & Hospitality Group announced the sale of the 122-room Courtyard by Marriott Wayne Fairfield. The select-service hotel is positioned 20 miles from New York City.
JLL represented the seller, RiverLink Hotels, in the sale to affiliates of Concord Hospitality. Working on behalf of the new owner, JLL also secured acquisition financing through M&T Bank.
The four-story hotel includes 73 standard king rooms, 36 standard two-queen rooms, seven extended two-queen rooms, four king suites, and two queen suites. Amenities include an indoor pool, fitness center, and 1,587 square feet of meeting space. The Bistro restaurant operates daily, serving breakfast and dinner.
The hotel is situated adjacent to Willowbrook Mall and provides access to major transportation arteries, including Route 23, Interstate 80, Interstate 287, and the Garden State Parkway. The area is close to universities and corporate headquarters. Recreational facilities, including MetLife Stadium and American Dream Mall, are nearby as well.
The JLL Hotels & Hospitality team representing the seller was led by Director Phil White. The financing efforts were spearheaded by Managing Director Jillian Mariutti.
“This Courtyard by Marriott represented a compelling value-add investment opportunity in one of northern New Jersey’s most strategically located markets,” said White. “The property combines relatively new vintage construction, strong in-place cash flows, and significant operational upside potential in a high barrier-to-entry market. With its proximity to New York City, access to major transportation networks, and location within a diverse economic base, this asset is well-positioned to benefit from continued recovery in business and leisure travel demand.”
“This transaction is reflective of the active debt markets we’re seeing today, particularly for high-quality, well-sponsored assets,” added Mariutti. “It was a highly competitive process, underscoring both the strength of the sponsorship and lender confidence in the hospitality sector’s continued performance.”
