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A Newton alternative investment manager provided a $45 million loan to acquire Boston’s Club Quarters Hotel.

The 178-room hotel at 161 Devonshire St. was previously owned by Blackstone, which defaulted on a loan in 2023 for four Club Quarters hotel properties.

The new loan was originated by Newton-based Seven Hills Realty Trust, which is managed by RMR Group affiliate Tremont Realty Capital. The firm is an alternative asset manager with $41 billion in assets under management.

JLL advised borrower Arch & Devonshire LLC in obtaining the financing for the three-year loan, which has two one-year extension options.

The membership-based format hotel has locations in seven North American cities and London.

JLL previously arranged the sale of the mezzanine loan on the four hotels in August 2023 to New York City Masterworks Development. Arch & Devonshire LLC shares an address with Masterworks according to Massachusetts and New York State business records.

Seven Hills Realty Trust Chief Investment Officer Tom Lorenzini said the firm is active in the market for similar transactions.

“The closing of the loan to finance the acquisition of this hotel demonstrates our ability to identify and execute compelling loan investment opportunities,” Lorenzini said in a statement.