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February 9, 2022

Anthony D. Delfre featured in a Crain’s Cleveland article on Marriott’s first foray into rentals

BGL Managing Director & Head of Real Estate Advisors Anthony D. Delfre is featured in this article on the new W Apartments planned for the Tower at Erieview in downtown Cleveland. Representatives for Marriott and the Kassouf family – a longtime BGL client and building owner of the Tower at Erieview – confirmed this week that the parties have inked a licensing deal, marking the hospitality giant’s entrée into the apartment market.

The lower floors in the 40-story downtown Cleveland office tower already are slated to become a W hotel under a deal announced last fall. The 210-room hotel will be the first W in Ohio and will include a full-service spa, a gym, and a 15,000-square-foot ballroom and event center.

BGL’s Real Estate Advisors team arranged financing for the $93.4 million tower overhaul, including state and federal tax credits for historic preservation.

The complete article is available on the Crain’s Cleveland website.