HFF arranges $56.5 million permanent financing for newly-built hotel in Boston’s Fenway area

  

Robyn King

 BOSTON, MA – HFF announced today that it has arranged $56.5 million in permanent financing for the Residence Inn Boston/Back Bay Fenway, a newly-built, 175-key, extended stay hotel in Boston’s Fenway/Kenmore neighborhood.

                HFF worked exclusively on behalf of the borrower, Boylston Properties, to secure the 10-year, fixed-rate loan through Cornerstone Real Estate Advisers on behalf of an institutional lender. 

                Completed in July 2013 in a contemporary urban design, The Residence Inn Boston/Back Bay Fenway is an eight-story, 154,684-square-foot hotel with studio, one-bedroom and two-bedroom guestrooms.  

Amenities include a breakfast area, lounge/bar, meeting room, indoor pool, fitness center, outdoor terrace on the top floor, and below-grade parking for 50 cars.  

Frederic A. Wittmann

The property also includes approximately 6,000 square feet of ground floor retail spaced leased to Bar Louie’s and Santander. 

  Located at 125 Brookline Avenue, The Residence Inn is immediately north of the Longwood Medical and Academic area and blocks from Boston University, Northeastern University, Fenway Park and the Fenway Triangle redevelopment area. 

The hotel has convenient access to public transportation via the MBTA Green line subway lines as well as the MBTA’s Framingham/Worcester commuter rail line. 

                The HFF debt placement team representing the borrower was led by senior managing director Fred Wittmann and senior real estate analyst Robyn King.

“One of the pioneers of the Fenway revitalization, Boylston Properties continues its success in the neighborhood with the development of this exceptional hotel, which rose to one of the top five performing Residence Inns in the country in 2013,” said Wittmann. 

Residence Inn Boston/Back Bay Fenway

  “On behalf of an institutional lender, Cornerstone Real Estate Advisers wisely outshined the competition to win this financing opportunity, and upheld its distinction through a smooth process.”

                Boylston Properties is an urban mixed-use developer based in Boston, with more than 30 years of experience in a wide range of successful projects including corporate headquarters, retail, office, residential, research facilities and mixed-use properties. 

  

For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com