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Boston & New England  + Boston  + Finance  |  December 17, 2024
Paul Bubny
By: Paul Bubny

Barings Provides $115M Refi on Hotel in Boston’s Seaport District

Barings has provided a $115-million loan to refinance the Renaissance Boston Seaport Hotel. A joint venture between affiliates of Rockpoint, Highgate and hotelAVE has owned the 471-key property since 2015.

“Fundamentals in the Boston hotel market continue to improve with limited new supply entering the market in the near term,” said Jonathan Neff, managing director with Barings. “The Renaissance is well positioned to benefit from its strategic location, surrounded by diverse demand drivers, including a concentration of Boston’s top employers, the Boston Convention and Exhibition Center and numerous destination retail and entertainment outlets.”

The Renaissance Boston Seaport Hotel is located at 606 Congress St. in the Seaport District, overlooking Boston Harbor. The hotel was built in 2008 and will complete a comprehensive renovation in 2025. It includes nearly 21,000 square feet of flexible meeting space and a 10,700-square-foot ballroom.

Eastdil Secured advised the sponsorship on the financing from Barings.

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Barings' Neff

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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