Oct
25
Aloft and Element Hotels Receive $140M Financing
ByHFF arranged the financing of the 330- and 180-key hotels on behalf of the borrower, through Starwood Property Trust. The hotels opened for business in 2016.
HFF arranged $140 million in financing for Aloft and Element Hotels in the Seaport District of Boston. The firm worked on behalf of the borrower, a venture of a fund managed by an affiliate of Ares Management and CV Properties LLC, to secure the loan through Starwood Property Trust. HFF has recently refinanced three Boston-area hotels totaling 623 keys.
Located at 401-403 D St., Aloft Hotel, a 13-story building with 330 guestrooms, is adjacent to the Boston Convention and Exhibition Center (BCEC). The hotel features amenities such as a grab-and-go gourmet eatery, fitness center, pool, outdoor entertainment area, Aloft’s signature w xyz bar and 12,000 square feet of function space…
