{"id":1004050204,"date":"2012-10-22T05:45:31","date_gmt":"2012-10-22T13:45:31","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=75317"},"modified":"2020-04-06T11:34:13","modified_gmt":"2020-04-06T19:34:13","slug":"developers-start-work-on-luxury-aloft-hotel-in-beachwood","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\/","title":{"rendered":"Developers Start Work on Luxury Aloft Hotel in Beachwood"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/p>\n

BGL Real Estate Advisors, a subsidiary of Brown Gibbons Lang & Co., and Cleveland real estate developer Scott Berkowitz broke ground on Monday, Oct. 15, on a luxury aloft hotel at the Chagrin Highlands \"\"<\/a>corporate center in Beachwood. It will be the second aloft hotel in the Cleveland area. In May 2013, an aloft hotel is expected to open in Cleveland\u2019s downtown.<\/p>\n

Mayor Merle Gorden, together with other members of the community, joined Berkowitz at the groundbreaking ceremony. The new Aloft hotel is a \u201dvision of W Brand Hotels,\u201d he said. Starwood Hotels and Resorts Worldwide Inc. calls the upscale, hip, urban-inspired select-service hotels its\u00a0”style at a steal” brand.<\/p>\n

The new hotel is being developed on a nearly four-acre site near Eaton Corp.’s new headquarters and University Hospitals\u2019 Ahuja Medical Center. According to land records, the developers paid $1.6 million for the property. The hotel will include 135 rooms and stand four stories high when it opens, anticipated in the third quarter of 2013.<\/p>\n

US Bank financed the project. Pride One Construction is the general contractor, with Mann Architects as the project\u2019s architect. Jeff Wild, partner at Benesch, Friedlander, Coplan & Aronoff, served as legal counsel, while Nico Bolzan, director, and Jeffrey Steck, vice president, led the BGL Real Estate Advisors transaction team. St. Louis-based Midas Hospitality was selected by the developers to manage the hotel.<\/p>\n

Berkowitz first looked to BGL Real Estate Advisors to secure both the debt and equity for the project. But the company found the project so interesting, it formed a partnership with Berkowitz and now they are working together as co-developers. \u201cAfter hearing about the project and then seeing the location, we knew it was a special business opportunity,\u201d Michael Gibbons, senior managing director & principal at Brown Gibbons Lang & Co., said in a release.<\/p>\n

Photo credit: www.facebook.com\/alofthotels<\/a>.<\/h6>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

BGL Real Estate Advisors, a subsidiary of Brown Gibbons Lang & Co., and Cleveland real estate developer Scott Berkowitz broke ground on Monday, Oct. 15, on a luxury aloft hotel at the Chagrin Highlands corporate center in Beachwood.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[39423,1815],"class_list":["post-1004050204","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest","tag-cleveland","tag-national"],"acf":[],"yoast_head":"\nDevelopers Start Work on Luxury Aloft Hotel in Beachwood - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developers Start Work on Luxury Aloft Hotel in Beachwood\" \/>\n<meta property=\"og:description\" content=\"BGL Real Estate Advisors, a subsidiary of Brown Gibbons Lang & Co., and Cleveland real estate developer Scott Berkowitz broke ground on Monday, Oct. 15, on a luxury aloft hotel at the Chagrin Highlands corporate center in Beachwood.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-10-22T13:45:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-06T19:34:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/386110_10151154633782728_798679811_n.jpg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b82b91678533ae5d40e3240086a42bb\"},\"headline\":\"Developers Start Work on Luxury Aloft Hotel in Beachwood\",\"datePublished\":\"2012-10-22T13:45:31+00:00\",\"dateModified\":\"2020-04-06T19:34:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/\"},\"wordCount\":321,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/10\\\/386110_10151154633782728_798679811_n.jpg\",\"keywords\":[\"Cleveland\",\"National\"],\"articleSection\":[\"Cleveland\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developers-start-work-on-luxury-aloft-hotel-in-beachwood\\\/\",\"name\":\"Developers Start Work on Luxury Aloft Hotel in Beachwood - 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