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W W W. M A I N E B I Z . B I Z 11 J U N E 1 , 2 0 2 6 Off the beaten path Elsewhere in Maine, recent projects include the Foreside Inn at 29 Wen- tworth St. in Kittery, developed by Madbury Real Estate Ventures, part of Wakefield, Mass., private invest- ment firm Madbury Capital. Features include extended-stay suites with kitchenettes; most rooms have private balconies. e project team includes Winter Holben Design & Architecture in Kittery and three New Hampshire firms: Altus Engineering, Woodburn & Co. Landscape Archi- tecture and JJ Welch Construction. "e Foreside Inn captures the creative spirit and chic aesthetic of Kittery Foreside, tucked into a cozy spot off the beaten path, just steps from all the area has to offer," Tay- lor McMaster, Madbury's managing partner, has said. Turnover e hotel real estate market has been active, too. In recent months, the Mar- ginal Way House Hotel in Ogunquit sold, after receiving multiple offers, for $9.995 million to a neighbor who owns other hotels. Roger Daigle of Daigle Commercial Group brokered the sale. In Searsport, the Captain Nickels Inn, listed on the National Register of Historic Places, sold to an Arizona couple getting into the bed- and-breakfast industry. Dana Moos of Portside Real Estate Group bro- kered the deal. In Boothbay Harbor, the Topside Inn and the neighboring Mid-Town Motel sold to 7 Padmavati Hospi- tality LLC, led by Paul Patel, who owns Wells real estate management services company SB Management LLC. Daigle and Benjamin Kramer of Daigle Commercial Group bro- kered the sale. "From the moment I arrived at the Topside, I felt quite at peace," Patel has said. "It wasn't just a busi- ness decision. It felt very personal." Two neighboring hotels along South Portland's Sable Oaks Drive sold in off-market transactions within a month of each other to out-of-state hotel operators. An affiliate of AON Hospitality Group acquired a Hol- iday Inn Express and an affiliate of Colwen Hotels bought the Portland Sheraton at Sable Oaks. Schenectady, N.Y.-based Cherko Fusco Realty represented the sellers. David Costello of Rockwell Group served as broker of record on the Hol- iday Inn Express transaction. "Closing hotel transactions has become increasingly challenging over the past few years as lenders have remained cautious toward the sector," Bryce Cherko, principal of Cherko Fusco Realty, said earlier this year. "Despite broader market headwinds, Portland continues to stand out as one of the most attractive hospital- ity markets in New England. Even with a slower pace of activity over the past year, fundamentals in the Port- land market remain strong and con- tinue to attract high-quality owner- ship groups." L aur i e S c h r e i b e r , M a i n e b i z s e n i o r w r i te r, c a n b e r e a c h e d a t l s c h r e i b e r @ m a i n e b i z . b i z P R O U D LY S E RV I N G C E N T R A L , C OA S TA L , A N D S O U T H E R N M A I N E S I N C E 1 9 4 3 . With over 80 years of industry leadership, we're committed to building value that's verified—projects rooted in sustainability, driven by collaboration, and focused on creating lasting benefits for the communities we serve. Innovative and functional spaces that drive business success. C O M M E R C I A L Multi-unit properties that foster connection and support modern living. H O U S I N G Learning environments that inspire growth and academic excellence. E D U C AT I O N A L Spaces that bring people together and enhance local quality of life. C O M M U N I T Y Facilities that prioritize patient care and advanced medical services. H E A LT H C A R E S C A N TO V I E W O U R P R OJ E C T S Get in touch at hebertconstruction.com paulwhitecompany.com 50 Allen Ave Portland, ME 207-797-4657 View Our Projects Maine's Trusted Source for Flooring & Countertops P H O T O / C O U R T E S Y M A I N E C O U R S E H O S P I TA L I T Y G RO U P You need a good site, a good brand, a good developer. It's not for the faint of heart. — Sean Riley Maine Course Hospitality Group Sean Riley

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