Renaissance Boston Seaport Hotel Secures $115 Million Refinancing

Global real estate investment firm Barings has announced a $115 million loan to refinance the Renaissance Boston Seaport Hotel. Since 2015, the hotel has been owned by a joint venture comprising affiliates of Rockpoint, Highgate, and asset manager hotelAVE.

Jonathan Neff, Managing Director at Barings, said the company was pleased to offer the financing. He highlighted the strong fundamentals of the Boston hotel market and the limited new supply expected in the near future. According to Neff, the hotel, thanks to its prime location and proximity to major employers, the Boston Convention and Exhibition Center, and various retail and entertainment outlets is well-placed to benefit.

Located at 606 Congress Street in the Seaport District, the Renaissance Boston Seaport Hotel overlooks Boston Harbor. Built in 2008, it will undergo a thorough renovation in 2025. The hotel boasts 471 rooms, approximately 21,000 square feet of flexible meeting space, a 10,700 square foot ballroom, a club lounge offering harbor views, a recently updated fitness center, an indoor swimming pool, and several food and beverage outlets.

Advisory firm Eastdil Secured guided the hotel owners through the financing process with Barings. This deal contributes to the expansion of Barings’ real estate debt platform, which currently stands at over $23.4 billion.