Ohana Real Estate Investors announced that it secured an $84 million loan to refinance the existing loan on Hotel Commonwealth in Boston. Ohana Real Estate Investors acquired the 245-room hotel in November 2020. Barings provided the loan for the borrower.
“We are excited about partnering up with Ohana, a highly experienced hotel investor,” said Ryan Naumes, managing director at Barings. “Fundamentals in the Boston hotel market continue to improve following the COVID-19 pandemic, with limited new supply entering the market in the near term. Hotel Commonwealth is uniquely positioned to benefit from Boston’s diverse demand drivers, including a concentration of the world’s best medical and academic institutions, a leading life sciences and research sector and its world-renowned professional sports teams.”
Hotel Commonwealth is located at 500 Commonwealth Avenue, situated in Kenmore Square, adjacent to Boston University’s campus and Fenway Park. The hotel was
