South Shore Place is situated on the site of the former Sheraton Braintree, which until early 2010 operated as a 374-guestroom hotel. In recent years, the hotel had been poorly maintained, and was in substantial need of improvement. Carpenter purchased the Sheraton Braintree in 2010, and redeveloped the hotel site by completely renovating a portion of the existing hotel, reducing the size of the hotel, and building new retail and restaurant space. The fully-rehabilitated hotel re-opened as a 204-guestroom Hyatt Place hotel in early 2012. In addition, Carpenter developed on the site approximately 49,000 square feet of retail and restaurant space. In redeveloping South Shore Place, Carpenter took a worn, underutilized asset, and through carefully-planned redevelopment, added vitality to the property and substantially increased its value.