COHEN FINANCIAL SECURES $21.6M LOAN FOR MULTIFAMILY PROPERTY IN OHIO

WILLOWICK, OHIO — Cohen Financial has secured $21.6 million in refinancing for Shoregate Towers, a 404-unit multifamily property in Willowick, a suburb of Cleveland. The property is located on Lake Erie at 30901 Lake Shore Blvd. Dan Rosenberg of Cohen’s Chicago office secured the fixed-rate, five-year term loan on a 30-year amortization schedule for the borrower, an East Coast commercial real estate owner/operator. Morgan Stanley, a Cohen Financial Conduit Lender, was the lender in the transaction.