1 month, 2 weeks ago by Bob Gough
Company currently owns Quincy's Hampton Inn
The owner of a Downtown Quincy hotel has made another purchase.
Joe and Jill Tracy of Tracy Holdings, LLC have purchased the Quincy City Center Hotel, QuincyJournal.com has learned.
Sale price has not yet been disclosed.
The Tracy’s also own Quincy’s Hampton Inn, which is located just to the east of the former Holidome. The facility will offer the opportunity for expanded banquet facilities once major renovations are complete.
Joe Tracy is also the president and COO of DOT Foods.
CBRE Auction Services conducted the auction. A representative of that group said although the minimum opening bid was met, none of the bidders met the reserve.
Abbott Development purchased the 145-room facility in 2008. The former Holiday Inn Holidome was sold to Marine Bank as part of a foreclosure settlement in 2006. The company, Quincy Partners Ltd. of Springfield, defaulted on the loan owing Marine Bank $3.19 million and the City of Quincy $1.16 million. The City had loaned Quincy Partners $1.35 million through a federal Urban Development Action Grant (UDAG).