BGL Real Estate Advisors Completes Development Financing for the Multi-Family Phase at Residences at Valor Acres

CLEVELAND, January 13, 2022 / PRNewswire / – Brown Gibbons Lang & Company (BGL) is pleased to announce the financial completion of the rental phase of Residences in Valor Acres, the first component of a larger mixed-use development in Valor Acres in Brecksville, Ohio. BGL’s Real Estate Advisors team acted as exclusive financial advisor to the DiGeronimo Companies on the transaction. Huntington Bank is financing the building with 157 apartments and 11 rentable townhouses in Brecksville, Ohio.

Valor Acres offers new opportunities for the outstanding mixed use between Cleveland and Akron.

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Brown Gibbons Lang & Company (BGL) is pleased to announce the financial completion of the rental phase of Residences at Valor Acres, the first component of a larger mixed-use development at Valor Acres in Brecksville, Ohio. BGL’s Real Estate Advisors team acted as exclusive financial advisor to the DiGeronimo Companies on the transaction.

The hotel is conveniently located off I-77 in the heart of Northeast Ohio, Valor Acres offers new opportunities for outstanding mixed-use development between Cleveland and Akron. In October 2020, The Sherwin-Williams Co. bought part of the land in Valor Acres for the development of its new research and development center, creating hundreds of high-paying jobs and an immediate need for new homes in the area. The new research and development center will consist of several buildings, parking lots and green spaces and will initially employ around 800-900 people. Additional job opportunities are expected as well Sherwin Williams it keeps growing. The R&D center is the catalyst to attract more office, residential, hospitality and retail investment in the area. Valor Acres is in a prime location, just a 30-minute drive from most Northeast Ohioincluding to the two major airports in the area, Akron-Canton Airport and Cleveland Hopkins International Airport. In addition to the Valor Acres residences, the Valor Acres master plan includes 650,000 square feet of new offices, a 130-room luxury hotel, and 150,000 square feet of retail and entertainment space.

The development funding consisted of: (i) senior construction debt at Huntington Bank, (ii) tax increase funding, and (iii) sponsorship funding.

“We are very pleased to announce the completion of the first phase of residential development in Valor Acres,” noted Kevin DiGeronimo, a director at DiGeronimo Companies. “This phase is another important step towards a project that is catalytic for the region and will bring a multitude of new developments and jobs to the region. BGL was a great partner who demonstrated both great expertise and creativity in structuring the funding for this initial. “We are fortunate to have her on our team.”

DiGeronimo Companies is a leading developer, investor and construction management company based in Independence, ohio. DiGeronimo is a full-scope developer with projects in retail, industrial, student dormitories and mixed-use developments whose development skills have evolved from their roots in construction work; this extended to demolition, environmental rehabilitation, construction and finally to extensive development. The vertical integration of the company’s development capabilities has allowed the company to do most of the construction itself, which in turn enables unprecedented speed to market for projects and increased control over project costs and schedule.

BGL’s Real Estate Advisors Group offers comprehensive real estate investment banking services that are tailored to medium-sized companies. It offers customer-oriented solutions with a focus on real estate advice, bond, preferred and private equity placement, financial restructuring, recapitalizations, sale-leaseback, structured financing and the acquisition and sale of assets across all asset classes. The team supports property owners and developers who want to form alliances and joint ventures with financiers from a single source in order to get local and institutional access for all capital needs.

About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global midmarket. The firm advises private and public companies and private equity groups on mergers and acquisitions, capital markets, financial restructurings, company valuations and appraisals and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, and San Antonio. The company is also a founding member of Global M&A Partners, which enables BGL to serve clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., a subsidiary of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. More information is available at www.bglco.com.

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