RALEIGH, NC—The Aloft brand is making a name for itself in the hotel industry—and the capital markets are taking notice. Developers secured a $16.6 million construction loan to develop the 135-room Aloft Raleigh in Raleigh, NC.

HFF represented the developers, a partnership between The Bernstein Companies, TME Investments, and Michael Sandman. HFF managing director Mark Remington led the charge to place the five-year construction loan with First Tennessee Bank.

“The Aloft Raleigh will be one of the only branded lodging facilities with direct access to the university, allowing the hotel to capture market share from inferior competitors from travelers who demand convenience, accessibility and modern amenities at competitive nightly rates,” says Remington. The hotel is set to come online in the fall of 2015.

Located at 2111 Hillsborough Street, Aloft Raleigh will sit next to North Carolina State University and two miles from Downtown Raleigh. Plans call for a fitness center, swimming pool, outdoor deck and the Aloft's signature Lobby and WXYZ Bar, Re:Mix lounge Re:Fuel packaged and fresh foods and In-Touch business center.

The news comes just after a new PKF Consulting report that reveals hotel profits are up. Debt is more available. Cap rates are stable. And values are expected to rise in the near-term. The firm just released its annual Hospitality Investment Survey, which tracks changes in hotel investment and financing criteria for the past 12 months.

“With supply growth forecast to remain below the long-run average, the outlook for exceptional returns on hotel investments appears to be positive,” says Scott Smith, vice president in PKFC's Atlanta office. “The only outstanding question among the respondents to our survey is 'how long can the industry maintain this peak performance?'” Click here to read more about the report.