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| Rendering of planned Aloft Raleigh, 2100 Hillsborough Street Downtown Raleigh, NC |
Working exclusively on behalf of a
partnership between The Bernstein Companies, TME Investments and Michael
Sandman, HFF placed the five-year construction loan with First Tennessee Bank.
The Aloft Raleigh will be located at 2100 Hillsborough
Street directly adjacent to North Carolina State University and two miles from
downtown Raleigh.
Upon completion in
the Fall of 2015, the Aloft will feature a fitness center, swimming pool,
outdoor deck and the Aloft’s signature Lobby and WXYZ Bar, Re:Mix (lounge),
Re:Fuel (packaged and fresh foods) and In-Touch (business center).
The HFF team representing the borrower was led by managing director Mark Remington.
“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,” said
Remington.
The Bernstein Companies, founded in 1933, has successfully
owned, managed, developed and invested in all types of commercial and
residential real estate throughout Washington, D.C. and the Mid-Atlantic area.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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