Baywood Hotels, a leading hotel management and development company, has purchased 165 Deer Street, Lot 3 from Foundry Place Hotel, LLC for $4,250,000.

The property is ideally situated in the heart of downtown Portsmouth off Maplewood Avenue adjacent to the Foundry Place Garage. Baywood plans to construct a new five-story Hyatt Place hotel on the property, boasting 117± modern rooms, a 51-space parking garage, and a ground-level café. Hotel guests will have a plethora of amenities nearby within walking distance. The proposed hotel is just one of several upcoming developments in downtown Portsmouth, reflecting the city’s growing and vibrant tourism community.

The transaction was arranged on behalf of the seller by Christian Stallkamp of The Boulos Company.