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Saturday, Sep 23, 2023

Glendale Hotel Financing Set

Dallas-based Hall Structured Finance announced on Tuesday the company will finance the construction of the Aloft hotel in Glendale for $17.6 million. The hotel is being developed by local developer Michael Tchakmakjian. “Hall Structured Finance’s ability to customize the financing terms to meet our project’s goals have made the development of the Aloft possible,” said Tchakmakjian in a statement. “We have enjoyed working with their team from start to finish, and are looking forward to delivering this new hotel to Glendale.” The Aloft hotel will be a six-story, full-service hotel with a ground-floor restaurant, rooftop bar, fitness center and meeting space of more than 2,000 square feet. It will be the only Marriott or Starwood-branded hotel in Glendale. The opening is expected for May 2019.

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