Columbia Pacific Advisors Provides $25M Acquisition Loan for Multifamily Portfolio in Cincinnati
CINCINNATI — Columbia Pacific Advisors LLC has provided a $25 million bridge loan primarily for the acquisition of a nine-property, 435-unit multifamily portfolio in Cincinnati. Kentucky-based Blue Tide Partners was the borrower. A portion of the loan proceeds will be used to refinance existing debt on nine similar properties totaling 212 units in Cincinnati that Blue Tide acquired in 2014 and 2015. Together, the 18-property portfolio is 55 percent occupied.