NATICK, MA—Locally-based Distinctive Hospitality Group has refinanced three hotels in corporate portfolio totaling 623 rooms.

Holliday Fenoglio Fowler, LP brokered the deal on two hotels in Natick and another in Somerville with Bank of America's CMBS Group. The 10-year, fixed rate securitized loan will be serviced by HFF with proceeds from the financing will be used to refinance existing debt and reinvest in the properties. No financial terms of the transaction were released.

The portfolio consists of the 251-room VERVE-Crowne Plaza Boston-Natick and the 188-room Hampton Inn Boston-Natick in Natick and the 184-room Holiday Inn Boston Bunker Hill Area in Somerville.

The HFF debt placement team representing Distinctive Hospitality Group included managing director Mark Remington, senior director Alan Suzuki and associate Evan Parker.

“This was a win-win for all parties; the lender gets to book a loan on three high-quality hotel assets in the suburbs of Boston, and our client gets a competitive rate and sufficient proceeds to implement its long-term business plans,” Remington said.

Distinctive Hospitality Group, founded in 2010 and led by hotel industry veteran Lou Carrier, the company's hotel portfolio also includes the Madison Beach Hotel in Madison, CT and the Hilton Mystic in Mystic, CT. According to the company's website, the firm also maintains a restaurant portfolio that includes SKYBOX 109 GastroSports in Natick, the Pantry in Natick, The Violent Thorn Lounge in Natick and Draft in Somerville and The Wharf in Madison, CT.

The VERVE Crowne Plaza Boston-Natick, located at 1360 Worcester St., was completed in 1985 and most recently renovated in 2012. The hotel features a fitness center, business center, 17,000 square feet of event space, the Pantry Restaurant and full-service restaurant The Violet Thorn. The Hampton Inn Boston-Natick is located one mile from the Crown Plaza Boston-Natick at 319 Speen St. and was completed in 1976 and renovated most recently in 2008. The hotel features a fitness center, business center, complimentary breakfast, 12,000 square feet of meeting space and the SKYBOKX 109 GastroSports restaurant.

The Somerville-based Holiday Inn Boston Bunker Hill Area, located four miles from Downtown Boston at 30 Washington St., was completed in 1974 and renovated between 2012 and 2013. The property features a fitness center, basketball court, indoor pool, business center, 9,700 square feet of meeting and event space and the DRAFT restaurant and lounge.