BGL Announces the Completion of Historic Adaptive Reuse Conversion Financing for Ceres Enterprises

CLEVELAND, Nov. 5, 2020 /PRNewswire/ — Brown Gibbons Lang & Company (BGL) is pleased to announce the successful completion of development financing for Ceres Enterprises (Ceres). The multi-faceted capital structure will support the adaptive reuse of the former NASA Glenn Research Center in Fairview Park, Ohio. BGL’s Real Estate Advisors Group served as the exclusive financial advisor to Ceres in this transaction.

The capital structure will support the adaptive reuse of the former NASA Glenn Research Center in Fairview Park, Ohio.

Ceres Enterprises is a leading developer and operator of fine select service hotels in the Midwestern United States, and is a preferred developer and operator of Marriott, Hilton, Wyndham and Choice Hotels. The repurposing of the NASA property will include a 3-story, 59-room, select-service Trademark Collection by Wyndham hotel, 92-unit Class-A apartments, a 6,638 square foot banquet and event space, a 13,117 square foot future brewery and

Read More

BGL Announces the Acquisition of a Multifamily Real Estate Portfolio in Washington, D.C.

CLEVELAND, Oct. 20, 2020 /PRNewswire/ — Brown Gibbons Lang & Company (BGL) is pleased to announce the acquisition of a four-building multifamily portfolio in Washington, D.C. on behalf of RLP Investments LLP (RLP). In total, the portfolio consists of 51 units and 36,324 square feet of multifamily real estate, approximately 10 miles east of downtown Washington, D.C. BGL’s Real Estate Advisors Group served as the exclusive financial advisor to RLP in the transaction. Financing for the acquisition and renovation of the properties was provided by MainStreet Bank. The developer was represented by Steven M. Buckman of BuckmanLegal, PLLC of Washington, D.C.

“BGL was able to help secure the acquisition financing in a very quick and efficient manner.”

Mikhail Phillips, Managing Member of RLP, commented, “BGL was able to help secure the acquisition financing in a very quick and efficient manner, as they stepped in when a prior advisor

Read More