HFF Closes $30M Sale of Dolce in NJ

NEW YORK—Holliday Fenoglio Fowler, L.P. (HFF), has closed the $30-million sale of Dolce Basking Ridge Hotel, a 171-room, full-service hotel and executive conference center located in Basking Ridge, NJ. HFF marketed the property on behalf of the seller, Broadreach Capital Partners.

Located 30 miles from Newark International Airport and 40 miles from New York City, the Dolce Basking Ridge Hotel is situated on 35 acres in a retreat-like setting at 300 North Maple Ave. The property recently underwent $2 million in renovations to upgrade guestrooms and suites in addition to modernizing the first- and second-floor meeting spaces. The hotel has 21,000 sq. ft. of function space, Vita Restaurant, Vita Bar, an indoor pool, whirlpool, fitness center, business center, basketball court and tennis court.

HFF Senior Managing Director Daniel C. Peek, Director KC Patel and Associate Director Marc Duval, who is based in the firm’s office in Florham Park, NJ, led the investment sales team representing the seller.