BGL Completes Financial Closing of Erieview Tower Redevelopment
Deal News | Jan 06, 2025 | Brown Gibbons Lang and Company (BGL)
Brown Gibbons Lang & Company (BGL) has successfully completed the financial closing for the redevelopment of the Erieview Tower & Galleria in downtown Cleveland, Ohio. This significant development project is set to include dual-branded W Residences and W Hotels by Marriott. The financing was secured through collaboration with several financial partners, including Huntington National Bank and Midland States Bank, as well as partners such as PPG, TurnDev, and the Cleveland-Cuyahoga County Port Authority. The redevelopment aims to revitalise the Cleveland area, enhancing its urban landscape and hotel accommodation offerings.
Sectors
- Real Estate Development
- Hospitality
- Financial Services
Geography
- United States, specifically Cleveland, Ohio – The redevelopment project is located in downtown Cleveland, Ohio, and involves local financial entities and authorities.
Industry
- Real Estate Development – This industry is relevant as the article discusses the redevelopment of the Erieview Tower & Galleria, which is a real estate project.
- Hospitality – Includes the development of W Residences and W Hotels by Marriott, indicating the involvement in the hospitality sector.
- Financial Services – Involves the financial closing facilitated by various banks and financial entities.
Financials
- Not specified – The article does not specify the amount of financial closings involved in the redevelopment project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Brown Gibbons Lang & Company (BGL) | Advisor | Company | Financial advisor responsible for completing the development financings. |
| Erieview Tower & Galleria | Target Company | Company | The redevelopment project site in downtown Cleveland. |
| Huntington National Bank | Financial Partner | Company | One of the financial institutions involved in providing finance for the redevelopment. |
| Midland States Bank | Financial Partner | Company | A participating bank providing financial support for the project. |
| PPG | Partner | Company | Involved in the redevelopment project, potentially as a supplier or contractor. |
| TurnDev | Partner | Company | Involved in the redevelopment project, potentially as a developer or contractor. |
| Cleveland-Cuyahoga County Port Authority | Government Partner | Government | Local government authority supporting the redevelopment project. |