HFF ARRANGES $16.6M CONSTRUCTION LOAN FOR ALOFT RALEIGH

RALEIGH, N.C. — HFF has secured a $16.6 million construction loan for the development of Aloft Raleigh, a 135-room hotel at 2100 Hillsborough St. near North Carolina State University in Raleigh. Upon completion in fall 2015, the hotel will feature a fitness center, swimming pool, outdoor deck and WXYZ Bar, in addition to the brand’s Re:Mix lounge, Re:Fuel dining area and In-Touch business center. Mark Remington of HFF arranged the five-year construction loan through First Tennessee Bank on behalf of the borrower, a partnership between The Bernstein Cos., TME Investments and Michael Sandman.