Local real estate firm Blue Flag Partners announced the acquisition of six additional properties in Nantucket, MA. With three existing hotel properties on Nantucket and the purchase of the historic Kelley House Hotel on Martha’s Vineyard in October 2020, these acquisitions further expand Blue Flag’s partnership with the Life House hotel group.
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Hawthorne House in Nantucket, MA (Photo: Business Wire)
The portfolio, which comprises 6 properties spread across 3 transactions, includes the Summer House at 27 Fair Street, Summer House at 29 Fair Street, Pineapple Inn on Hussey Street, India Street Inn on India Street, Hawthorn House on Chestnut Street, and a property on Federal Street that previously operated as a seasonal vacation rental.
"With signs of an accelerated recovery of travel demand to Nantucket, MA, based on the bookings we are seeing at hotels within our existing portfolio, we are pleased to announce our continued expansion through acquiring these six historic properties. We look forward to honoring the history of the island with our thoughtful approach to design and locally-rooted experiences," said Jason Brown, Managing Partner at Blue Flag.
The hotels will join a growing portfolio of historic hotels and inns on Nantucket and Martha’s Vineyard owned by Blue Flag and operated by the award-winning Life House hotel group, which include the original Roberts House Collection on India Street, which has since been transformed into Faraway Nantucket, the former Century House on Cliff Road which reopened last summer as Life House, Nantucket, the former Star of the Sea Hostel on Western Avenue, and the historic Kelley House hotel in Edgartown, MA.
"We have enjoyed working with Blue Flag to manifest their vision for locally-rooted, lifestyle hospitality experiences on Nantucket and Martha’s Vineyard. We are thrilled to further our partnership with them by operating these new properties and collaborating on their restoration," said Bryan Dunn, Head of Growth at Life House.
Life House will operate a portion of the newly acquired portfolio "as-is" for during 2021 operating season ahead of supporting Blue Flag with executing various improvements during the upcoming off-season period.
About Blue Flag
Blue Flag Partners is a vertically integrated investment, real estate development and branding firm operating out of Boston, MA. Blue Flag has built a reputation for acquiring unique residential and hospitality assets in high-barrier-to-entry markets and currently targets raw land, historic structures, hotels, campgrounds and restaurants. Additionally, Blue Flag makes strategic investments in related operating companies and brands. To learn more about Blue Flag, visit www.blueflagpartners.com.
About Life House
Life House is a New York-based, venture-backed and vertically-integrated hotel brand, management, and software company. Life House has built a proprietary technology stack to power a platform that makes hotels more seamless and more profitable for hotel owners and travel more meaningful and more accessible for travelers. Life House operates and brands 4-star hotels, and operates independent hotels under its Life Hospitality management platform.
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