$140 million permanent financing secured for Aloft and Element Hotels in Seaport District

The 330-room Aloft Hotel and 180-room Element Hotel in the Seaport District, which opened in Winter 2016 and are located across from the Boston Convention and Exhibition Center (BCEC) in Boston’s Seaport District, have received a total of $140 million in permanent financing. The loan was secured for the borrower, a partnership of Ares Management and CV Properties LLC, by HFF through Starwood Property Trust. The hotels cost a total of $158 million to develop; HFF also arranged the hotels’ $97 million construction loan through RBS Citizens and Santander Bank N.A.

The Aloft and Element Hotels are located in the heart of Boston’s rapidly developing Seaport District, making them attractive towards business and leisure travelers, and are also home to local entertainment options such as The Social Register and W XYZ Bar. “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,” said HFF Managing Director Anthony Cutone in a prepared statement. Each hotel features amenities including a pool, a fitness center and function/meeting space.

View MCCA Hotels: Aloft and Element >>