HFF Secures $140M for Aloft and Element Hotels in Seaport DistrictOctober 25, 2017 - By The Real Reporter
BOSTON—Holliday Fenoglio Fowler, L.P. (HFF) announces the $140 million financing of the 330-room Aloft Hotel and the 180-room Element Hotel adjacent to the Boston Convention and Exhibition Center (BCEC) in Boston’s Seaport District.
“The hotels opened for business in early 2016 and have enjoyed a strong reception due in part to the phenomenal growth of the Seaport area, the quality of the development and the strong demand generated from the BCEC,” expressed, HFF managing director, Anthony Cutone in a release. The HFF team worked on behalf of the borrower, a venture between a fund managed by an affiliate of Ares Management and CV Properties LLC, to secure the loan through Starwood Property Trust. HFF arranged construction financing for the properties as well, back in 2014.
The Aloft Hotel is a 13-story hotel with 330 guestrooms. Hotel amenities include a grab and go gourmet eatery, fitness center, pool, outdoor entertainment area, Aloft’s signature WXYZ bar, and 12,000 square feet of function space.
The Element Hotel was designed for longer-stay travelers and features 180 guestrooms with fully-equipped kitchens, flexible workspace and spa-inspired bathrooms. Hotel amenities include a pool and fitness center, Restore Gourmet Pantry, a bike sharing program and meeting space.
The HFF debt placement team representing the borrower included Cutone and director Matthew Enright.Anthony Cutone