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11

HFF Arranges Refi of Boston Hotel Portfolio

By Tony Seruga

The commercial real estate services firm landed a 10-year CMBS loan for Distinctive Hospitality Group’s refinancing of three properties in the city’s suburbs.

With the assistance of HFF, Distinctive Hospitality Group just refinanced three Boston-area hotels totaling 623 keys. The commercial real estate and capital markets services firm arranged a loan with Bank of America, providing Distinctive with the proceeds to refinance existing debt on the three hotels and to reinvest in the assets.

“This was a win-win for all parties; the lender gets to book a loan on three high-quality hotel assets in the suburbs of Boston, and our client gets a competitive rate and sufficient proceeds to implement its long-term business plans,” Mark Remington, managing director with HFF, said in a prepared statement…

HFF Arranges Refi of Boston Hotel Portfolio

Categories : Commercial Real Estate

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