New Hyatt Place Hotel Coming to Portsmouth

A Maine and New Hampshire commercial real estate firm announced it has bought a property in Portsmouth’s rapidly growing North End and plans to build a five-story hotel there.

Baywood Hotels bought 165 Deer Street for $4.25 million from Foundry Place Hotel LLC, according to a press release from The Boulos Company issued Monday.

Baywood plans to construct a new Hyatt Place hotel on the property, featuring 117 rooms, a 51-space parking garage and a ground-level café.