RBS Citizens and Santander Bank N.A. have provided a $97 million construction loan for a pair of hotels across the street from the Boston Convention and Exhibition Center.

HFF arranged the financing on behalf of Ares Management LLC and CV Properties LLC.

The 330-room Aloft Hotel and 180-room Element Hotel will be built on a 3.1-acre site at 371-401 D St. in South Boston leased from the Massachusetts Convention Center Authority. The Aloft will be a 13-story hotel with 325 guestrooms and five one-bedroom suites. Amenities will include a grab-and-go eatery, fitness center, pool, outdoor entertainment area, bar and 12,000 square feet of function space. 

The Element Hotel will be designed for longer-stay travelers and will include 180 guestrooms with fully-equipped kitchens, flexible work space and spa-inspired bathrooms. The six-story hotel will have studio suites, one-bedroom suites, standard king rooms and eight conference suites. Hotel amenities will include a pool and fitness center, Restore: Gourmet Pantry, a bike sharing program and meeting space.

The HFF debt placement team representing the borrower was led by managing director Anthony Cutone and senior real estate analyst Alan Suzuki. The Citizens team was led by Kevin Boyle, Chris Robie and John Fahy. The Santander team was led by George Brockman, director of commercial real estate, and Pete Olivier, senior commercial real estate banker.

"The development of the Aloft and Element Hotels will add more than 500 hotel rooms to the immediate BCEC area, providing a degree of relief to the undersupplied Boston hotel market and allowing the Boston Exhibition and Convention Center to more effectively compete for convention business," Cutone said in a statement.