Maryland firm pays $4.2 million for North End site to build Portsmouth hotel

Maryland firm plans five-story, 117-room Hyatt Place
Hyatt Place Hotel

Rendering of planned Hyatt Place Hotel in Portsmouth. (Courtesy)

Baywood Hotels, a hotel management company based in Columbia, Md. that operates hotels around the country, has paid $4.25 million for a site in Portsmouth’s North End, where it plans to build a five-story hotel.

Baywood bought the 165 Deer St. property from Foundry Place Hotel LLC, according to a press release issued Monday by The Boulos Company, which brokered the transaction.

Baywood said it plans to build a new 117-room Hyatt Place hotel at the site along with a garage and café.

The Deer Street property, now an empty lot, was the site of previously proposed multi-use project by Deer Street Associates and later that was slated to include a five-story hotel, but the plan was later scrapped.

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