A 2014 renovation project at the Courtyard Boston Downtown included the new Post No. 10 restaurant and bar. Photo courtesy of BDT & MSD Partners

A bank that invests on behalf of family offices including that of Dell Technologies Founder Michael Dell provided $102 million in acquisition financing for a Boston hotel sale.

The 315-room Courtyard Boston Downtown was sold for $123 million by Dallas-based Ashford Hospitality Trust.

A mortgage of $102 million was provided by New York-based BDT & MSD Partners, a bank that invests on behalf of family offices. The bank was formed in 2023 through a merger of merchant bank BDT & Company and Dell’s MSD Partners investment firm.

The Theater District property at 75 Tremont St. was sold to Tremont Owner LLC 275 and Cogency Global, which provides corporate registration services. The sales price equates to over $390,000 per room. 

A renovation project completed in 2014 highlighted the property’s history, including its original incarnation in 1924 as an Elks Lodge, adding Jazz Age-inspired artwork and harlequin marble floors. 

The property also contains 13,000 square feet of event space and the 450-person-capacity Empire Ballroom.

The transaction represents the second property sold in Boston in the past year by Ashford, a Dallas-based REIT that specializes in the hospitality sector.

In April, Ashford sold the 390-room Back Bay Hilton for $171 million to New York-based investment firm Certares.

In December, Ashford executives announced plans to further cut expenses and increase revenues. Sale of the Boston hotel will result in “significant capital expenditure savings,” CEO Stephen Zsigray said at the time.