February 16, 2018 Comments Off on $17.6M Loan Finances Construction of Glendale Aloft Hotel Views: 2951 California News, Los Angeles

$17.6M Loan Finances Construction of Glendale Aloft Hotel

Connect Los Angeles is planned March 27th at the Hotel Indigo in DTLA. Here is where to get more information and REGISTER.

Dallas-based Hall Structured Finance closed a new first lien construction loan totaling $17.6 million to finance the construction of an Aloft hotel in Glendale, CA. The new six-story hotel is being developed by local developer Michael Tchakmakjian, and is expected to open in May 2019.

Hall Structured Finance’s Mike Jaynes says, “Glendale and the surrounding area is one of the healthiest hotel markets in the country. The Aloft is located within walking distance to major corporate and regional headquarters, and with the benefit of the Marriott/Starwood loyalty program, it will be a great asset to the area’s business community.”

The property will be an 85-key, full-service hotel, and will feature a rooftop bar, ground-floor restaurant, fitness center and more than 2,000 square feet of meeting space. The project is located at Brand Boulevard and Dryden Street, and will be the only Marriott or Starwood-branded hotel product in Glendale.

Connect With Hall Structured Finance’s Jaynes

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