Wednesday, June 17, 2026
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AcquisitionsIndustrialMidwestOhio

CBRE Arranges $18M Sale of Industrial Facility in Trotwood, Ohio

by Kristin Harlow

TROTWOOD, OHIO — CBRE has arranged the $18 million sale of a 380,000-square-foot distribution facility located at 1 Modern Way in Trotwood, a suburb of Dayton. Viking Partners purchased the property from Stratacache Inc. CBRE’s Will Roberts, Steve Timmel and Doug Whitten represented the seller. The facility is located just south of Dayton International Airport, offering immediate access to I-75 and I-70. Built in 2008, the development features 12,000 square feet of office space, clear heights ranging from 28 to 30 feet, 32 dock doors, four drive-in doors and rail service via CSX with an interior spur.

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AcquisitionsLoansMidwestMultifamilyOhioSeniors Housing

Red Oak Capital Provides $11.1M Bridge Loan for Assisted Living Community in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Red Oak Capital Holdings LLC has provided $11.1 million in financing for the acquisition and capital improvements of Cottages of Clayton, a 90-unit assisted living community in Dayton. The bridge loan features an 18-month initial term and a loan-to-stabilized value of 69 percent. Stratos Athanassiades of Red Oak originated the loan, which was underwritten by Thomas Gorski and administered by James Myatt. The borrower, Clayton Realco LLC, is a private investor group that owns and operates 12 senior living communities. Built in 1999, Cottages of Clayton features seven cottage-style buildings with 90 studio units. Each building contains its own kitchen, laundry facilities and resident lounge areas. Amenities include a dining room, activity room, salon and outdoor spaces.

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DevelopmentMidwestMultifamilyOhio

CASTO Opens 235-Unit Westrich Apartment Community in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — CASTO, in partnership with Columbus Metropolitan Housing Authority, The Weiler Co., The Kelley Family and Mark Cain, have opened Westrich, a 235-unit apartment community in the Franklinton neighborhood of Columbus. Oakwood Management Co. is the property manager. The five-story development includes 5,806 square feet of ground-floor retail space on Rich Street. Floor plans come in studio, one- and two-bedroom layouts. Amenities include a pool, fitness studio, resident lounge, pet spa and bike storage.

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AcquisitionsLoansMidwestOhioRetail

Eastern Union Arranges $12.9M in Acquisition Financing for Shopping Center in Lima, Ohio

by Kristin Harlow

LIMA, OHIO — Eastern Union has arranged $12.9 million in financing on behalf of borrower Lima Tov LLC for the acquisition of Lima Center, a 174,078-square-foot shopping center located in northwestern Ohio. The purchase price was $19.5 million. Lima Center was 98 percent leased at the time of the loan closing to 10 tenants, including Five Below and Dollar Tree, and is anchored by an 86,584-square-foot Kohl’s and a 30,000-square-foot TJ Maxx. Jack Beida, Michael Muller and Mike Orlik of Eastern Union arranged the seven-year, fixed-rate mortgage on behalf of the borrower. The seller and the direct lender were not disclosed.

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AcquisitionsHealthcareMidwestOhio

Cooper Group Brokers Sale of Single-Tenant Medical Building in Wadsworth, Ohio 

by Kristin Harlow

WADSWORTH, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant medical building occupied by Cleveland Clinic Urgent Care in Wadsworth near Akron. The property recently received nearly $7 million in upgrades from the Cleveland Clinic to transform the asset into a modern urgent care facility with onsite imaging and lab services. Dan Cooper of Cooper Group represented the seller, a private New York-based investor. The property sold at a 5.6 percent cap rate to another private investor based out of New York in an all-cash transaction.

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DevelopmentMidwestMultifamilyOhio

Krueger Group Opens 25-Unit Rental Townhome Development in Rocky River, Ohio

by Kristin Harlow

ROCKY RIVER, OHIO — The Krueger Group (TKG) has opened Phase II of ORRIS, which brings 25 rental townhomes along Center Ridge Road in Rocky River, a suburb of Cleveland. Cross Street is handling leasing, marketing and property management. The residences are offered in two- and three-bedroom floor plans with attached two-car garages. The units average 2,600 to 2,700 square feet, with some larger floor plans exceeding 3,000 square feet. Monthly rents start at $4,700. The first phase of ORRIS was completed in 2024 and comprises a 54-unit apartment building. Residents of the townhomes enjoy full access to the amenities within Phase I, including a fitness center, coworking spaces, resident lounge areas, package and mail services, dry cleaning services and an outdoor courtyard.

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AcquisitionsAffordable HousingLoansMidwestMultifamilyOhio

Lument Provides $28M HUD-Insured Loan for Ohio Affordable Housing Property

by Kristin Harlow

LORAIN, OHIO — Lument has provided a $28 million HUD/FHA Section 221(d)(4) loan on behalf of TFG Housing Resources and Raise Up for the acquisition and substantial rehabilitation of Western Horizon, a 353-unit affordable housing community in Lorain, about 25 miles west of Cleveland. The transaction utilized a component of the Rental Assistance Demonstration (RAD) program that allows for blending RAD with Section 18 of the National Housing Act to fund the preservation of aging affordable housing. Lument’s Joey Hague led the transaction. The units were converted through the RAD program in conjunction with 4 percent Low-Income Housing Tax Credits through the Ohio Housing Finance Agency. In addition to the FHA mortgage, Lument Securities served as the underwriter for $9.2 million in tax-exempt bonds. Originally built in the 1950s as three separate communities, Leavitt Homes, Westview Terrace and Westgate Apartments have historically operated as public housing. As a result of the RAD conversion utilizing FHA financing, the properties now operate as one and are being rebranded as Western Horizon. Post renovation, all units will be assisted by project-based rental assistance with rents restricted to 60 percent of the area median income. TFG Housing Resources is a Columbus-based real estate developer …

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AcquisitionsMidwestOhioRetail

Tanger Acquires Town Center at Levis Commons Near Toledo for $60M

by Kristin Harlow

PERRYSBURG, OHIO — Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot mixed-use development in Perrysburg, about 10 miles south of Toledo. The purchase price was $60 million. Developer and owner Hill Partners, which has managed, leased and owned Levis Commons since its opening in 2004, was the seller. Situated at the entrance of J. Preston Levis Commons, a 400-acre master-planned community, The Town Center at Levis Commons features more than 60 retailers and restaurants, a Cinemark movie theater and 69,000 square feet of office space. Tenants include Sephora, Shake Shack, Anthropologie, lululemon, J. Crew Factory, Athleta, drybar, Soma, Chico’s, Arhaus and Books-A-Million. CBRE represented the seller.

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AcquisitionsIndustrialMidwestOhio

Colliers Negotiates Sale of 208,000 SF Industrial Facility in Rossford, Ohio

by Kristin Harlow

ROSSFORD, OHIO — Colliers has negotiated the sale of Innovation Industrial Park Building 2, a 208,000-square-foot industrial facility in Rossford near Toledo. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Tim Breckner and Conor Toomey of Colliers represented the seller, Scannell Properties. Glen Una Management Co. was the buyer. Delivered in 2022, the property is fully leased to Logos Logistics, Norplas Industries Inc. and Grabber Construction Products. The rear-load facility features a clear height of 32 feet, 24 dock-high doors, two drive-in doors, a 130-foot truck court and 58 trailer parking stalls.

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Affordable HousingDevelopmentMidwestMultifamilyOhio

The Community Builders Completes 64-Unit Affordable Housing Development in Cleveland

by Kristin Harlow

CLEVELAND — The Community Builders (TCB) has completed Woodhill Station East, the third phase of the Buckeye-Woodhill Choice Transformation in Cleveland. The building delivers 54 affordable apartments and 10 market-rate units for residents in the Buckeye-Woodhill neighborhood and is situated immediately to the east of Woodhill Station West. Woodhill Station East is the third phase in the redevelopment of the former Woodhill Homes. A commercial space will host up to three tenants. Residents have access to amenities including a community room, lounges, a fitness center, landscaped greenspace and an outdoor patio. All units are pre-wired for high-speed internet service, including low-cost access provided by Digital-C. TCB will oversee a wide range of resource and programming partners and activities, including a team of TCB Community Life case managers, which will provide onsite supportive service programming. They will connect residents to opportunities in six areas: workforce development, asset building, community engagement, youth development, education and health and wellness. Financial partners included Lument, Ohio Capital Corp. for Housing, Ohio Housing Finance Agency, Citizen’s Bank, HUD Choice Neighborhoods program, TCB, Cuyahoga Metropolitan Housing Authority (CMHA) and the City of Cleveland via ARPA HOME funds. In 2021, HUD awarded a $35 million Choice Neighborhoods Implementation …

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