YANKEE

Mill Town Capital has purchased Yankee Suites Extended Stay complex for $2.25 million. CEO Tim Burke said the company intendes to continue operating the facility as a long-term lodging establishment.

PITTSFIELD — Mill Town Capital has made another foray into the local lodging market by purchasing the only facility in the Berkshires that is specifically set up to accommodate long-term guests. The Pittsfield-based private investment firm paid $2.25 million to purchase the Yankee Suites Extended Stay complex in Pittsfield from Toole Properties 2002, Inc., according to documents filed at the Middle Berkshire Registry of Deeds. Toole Properties is a subsidiary of the Berkshire-based Toole Cos., which owns three other lodging establishments in Lenox. Mill Town, which has obtained a mortgage on the property with Greylock Federal Credit Union, will operate its new acquisition under the subsidiary, Rivera Properties LLC. Toole converted the former apartment building on West Housatonic Street into an extended stay facility after purchasing it in 2002. According to Mill Town’s Managing Director/CEO Tim Burke, the complex contains a mixture of 26 studio and one bedroom suites. “We plan to operate it as an extended stay lodging property consistent with its current use,” Burke said. Mill Town has said it plans to spend $11 million to renovate nearby Bousquet Ski Area, which it purchased

last year

, with $5 million of that sum going toward the construction of a new ski lodge. Two more recent Mill Town acquisitions, the former Berkshire West Athletic Club, located across Dan Fox Drive from the ski area, and the former Lakeside Christian Camp in Pittsfield, have both been rebranded under the Bousquet name. In February, the City Council

approved

an allocation of almost $1 million from the city’s General Electric Economic Development Fund to Mill Town to expand water and sewer lines to Bousquet Mountain. When asked if the extended stay complex might be tied into the group’s future plans for the Bousquet complex, Burke said, “it will continue to operate as a separate entity. Certainly, there may be complementary aspects down the road, but currently it’s a well run, well operated property that’s a good fit with our real estate portfolio.” Mill Town first entered the local lodging space last June when it

purchased

the Gateways Inn, a luxury bed-and-breakfast in Lenox, for $1 million. The company has since

renovated

the inn and is planning to reopen it sometime this month. Last week, Mill Town hired executive chef Jeremy Berlin to oversee all of the group’s culinary operations, and the reopenings of both the Gateways Inn and Mission Bar + Tapas in Pittsfield, a restaurant the firm purchased in 2019. Mission reopened May 28. Berlin formerly worked at Blantyre in Lenox. Last month, Mill Town

hired

Dennis Robinson, who has executive experience at both the professional sports and major college athletics level, to serve as president and chief operating officer of its burgeoning list of recreational properties, which have been grouped together under the name Bousquet Enterprises. Besides the ski area, the former athletic club and the camp, Mill Town has also purchased two former golf courses, Pontoosuc Lake Country Club in Pittsfield and Skyline Country Club in Lanesborough, during the past 13 months. Skyline’s 58-year-old course has been closed; Mill Town

purchased

the property intending to comply with the agreements the club’s former owner had reached with developers to place two solar fields on the property. Mill Town has yet to release its plans for

Pontoosuc

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, a course that dates back to the 1920s and is beloved by local golf aficionados.

PITTSFIELD — Mill Town Capital has made another foray into the local lodging market by purchasing the only facility in the Berkshires that is specifically set up to accommodate long-term guests.

The Pittsfield-based private investment firm paid $2.25 million to purchase the Yankee Suites Extended Stay complex in Pittsfield from Toole Properties 2002, Inc., according to documents filed at the Middle Berkshire Registry of Deeds. Toole Properties is a subsidiary of the Berkshire-based Toole Cos., which owns three other lodging establishments in Lenox. Mill Town, which has obtained a mortgage on the property with Greylock Federal Credit Union, will operate its new acquisition under the subsidiary, Rivera Properties LLC.

Toole converted the former apartment building on West Housatonic Street into an extended stay facility after purchasing it in 2002. According to Mill Town’s Managing Director/CEO Tim Burke, the complex contains a mixture of 26 studio and one bedroom suites.

“We plan to operate it as an extended stay lodging property consistent with its current use,” Burke said.

Mill Town has said it plans to spend $11 million to renovate nearby Bousquet Ski Area, which it purchased last year, with $5 million of that sum going toward the construction of a new ski lodge. Two more recent Mill Town acquisitions, the former Berkshire West Athletic Club, located across Dan Fox Drive from the ski area, and the former Lakeside Christian Camp in Pittsfield, have both been rebranded under the Bousquet name.

In February, the City Council approved an allocation of almost $1 million from the city’s General Electric Economic Development Fund to Mill Town to expand water and sewer lines to Bousquet Mountain.

When asked if the extended stay complex might be tied into the group’s future plans for the Bousquet complex, Burke said, “it will continue to operate as a separate entity. Certainly, there may be complementary aspects down the road, but currently it’s a well run, well operated property that’s a good fit with our real estate portfolio.”

Mill Town first entered the local lodging space last June when it purchased the Gateways Inn, a luxury bed-and-breakfast in Lenox, for $1 million. The company has since renovated the inn and is planning to reopen it sometime this month.

Last week, Mill Town hired executive chef Jeremy Berlin to oversee all of the group’s culinary operations, and the reopenings of both the Gateways Inn and Mission Bar + Tapas in Pittsfield, a restaurant the firm purchased in 2019. Mission reopened May 28. Berlin formerly worked at Blantyre in Lenox.

Last month, Mill Town hired Dennis Robinson, who has executive experience at both the professional sports and major college athletics level, to serve as president and chief operating officer of its burgeoning list of recreational properties, which have been grouped together under the name Bousquet Enterprises.

Besides the ski area, the former athletic club and the camp, Mill Town has also purchased two former golf courses, Pontoosuc Lake Country Club in Pittsfield and Skyline Country Club in Lanesborough, during the past 13 months.

Skyline’s 58-year-old course has been closed; Mill Town purchased the property intending to comply with the agreements the club’s former owner had reached with developers to place two solar fields on the property. Mill Town has yet to release its plans for Pontoosuc, a course that dates back to the 1920s and is beloved by local golf aficionados.