RALEIGH, NC—The Aloft brand is making a name for itself in the hotel industry—and the capital markets are taking notice. Developers secured a $16.6 million construction loan to develop the 135-room Aloft Raleigh in Raleigh, NC.
HFF represented the developers, a partnership between The Bernstein Companies, TME Investments, and Michael Sandman. HFF managing director Mark Remington led the charge to place the five-year construction loan with First Tennessee Bank.
“The Aloft Raleigh will be one of the only branded lodging facilities with direct access to the university, allowing the hotel to capture market share from inferior competitors from travelers who demand convenience, accessibility and modern amenities at competitive nightly rates,” says Remington. The hotel is set to come online in the fall of 2015.
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