Boston, MA - Peter Elliot LLC is pleased to announce that Elderhostel, Inc. has purchased 15 Avenue de Lafayette in Boston, Massachusetts for $6,600,000. Elderhostel, Inc. will be relocating their offices at 75 Federal Street to this new location in December of 2000.

The seller, 100 Chauncy Street LLC, retained the services of Travis B. Powell, Senior Vice President of Peter Elliot LLC, to represent its interests in this transaction. The buyer retained Robert M. Delaney, Principal of Trammell Crow Company, for the transaction.

15 Avenue de Lafayette is a five-and-a-half story, 62,000 square-foot office building that will be fully renovated for owner occupant, Elderhostel, Inc. There will be a small amount of excess space that will be leased out to other non-profits and organizations.

The purchase of this building reflects the optimism about the vitality and trends in the mid-town district, including Millennium Partner's development of Millennium Place, a 2,000,000 square-foot office and retail complex right around the corner from the site.

Elderhostel, Inc. has chosen George Walsh of Walsh Cochis as the architect for the project. Elderhostel, Inc. is a non-profit organization dedicated to the educational needs of people over the age of 55. Established in 1975 as a summer-only program in New England, the organization now offers worldwide more than 10,000 programs year-round to more than a quarter million.