Ohio

Bellwether Enterprise Arranges $80M Refinancing for 241-Unit Apartment Complex in Cleveland

by Taylor Williams May 15, 2017

CLEVELAND — Bellwether Enterprise Real Estate Capital LLC has arranged $80 million in refinancing for the Flats at East Bank Apartments, a 241-unit multifamily asset in Cleveland. Jim Doyle of Bellwether arranged the loan through Deutsche Bank, AG, on behalf of an undisclosed borrower. Built in 2016, the rental property offers penthouses, in addition to one-, two- and three-bedroom units. Amenities include a business center, 24-hour fitness center, 40,000-square-foot outdoor terrace and 24/7 concierge and room services. According to the property’s website, one-bedroom units range from about 700 to 1,200 square feet per unit and rent for $1,700 to $2,200 per month, depending on size. Two-bedroom units average approximately 1,400 square feet per unit and three-bedroom units average about 1,600 square feet per unit. Average rents for these apartments vary based on size. The building also houses 61,016 square feet of retail space primarily leased to food and beverage establishments. Current tenants include Punch Bowl Social, Beerhead Bar and Eatery and Big Bang Dueling Piano Bar. Several other food and beverage companies, including Thirsty Dog Brewing Co. and Dante’s Inferno, were recently added to the tenant roster. The complex is located at 1055 Old River Road on the city’s waterfront district. …

May 15, 2017

Loans Midwest Minnesota Missouri Ohio Wisconsin

KeyBank Arranges $12.7M Loan for Refinancing of Parking Facility Portfolio in Midwest Region

by Kristin Harlow May 12, 2017

OHIO, MINNESOTA, MISSOURI AND WISCONSIN — KeyBank Real Estate Capital has arranged a $12.7 million loan for the refinancing of the MVP Portfolio, which consists of six surface parking lots and garages across the Midwest and in Colorado. Totaling 994 parking spaces, the properties are located in Cleveland, Ohio; St. Paul, Minn.; St. Louis; Milwaukee; and Denver. Randy Martin of KeyBank arranged the 10-year loan, which includes a 25-year amortization schedule. A CMBS lender provided the loan.

May 12, 2017

Midwest Ohio Retail

Marcus & Millichap Brokers $4.5M Sale of Shopping Center in Columbus, Ohio

by Kristin Harlow May 12, 2017

COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of Lincoln Village in Columbus for $4.5 million. The 210,036-square-foot shopping center is located at 2769 Northland Plaza Drive. Anchored by Discount Fashion Warehouse, Scare-A-Torium and Family Thrift, the center was 92 percent occupied at the time of sale. Other tenants include GNC, CSL Plasma, Donatos Pizza and Steak ‘n Shake. Erin E. Patton, Scott Wiles and Craig Fuller of Marcus & Millichap marketed the property on behalf of the seller, a New York-based family office. A private local buyer purchased the property.

May 12, 2017

Affordable Housing Loans Midwest Multifamily Ohio

Dougherty Arranges $12M Loan for Refinancing of Affordable Housing Property in Goshen, Ohio

by Kristin Harlow May 11, 2017

GOSHEN, OHIO — Dougherty Mortgage LLC has arranged a $12 million HUD 223(f) loan for the refinancing of Meadow View Townhomes in Goshen, about 30 miles northeast of Cincinnati. The affordable housing property, built in 1994, consists of 128 units. Dominium Development & Acquisition took over ownership and management duties of the property in 2015. The loan features a 35-year term and amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower, Goshen Leased Housing Associates I LLLP, a limited liability partnership based in Minnesota.

May 11, 2017

Midwest Ohio Retail

Cooper Group Brokers $1.4M Sale of Property Net Leased to AutoZone in Chesterland, Ohio

by Kristin Harlow May 9, 2017

CHESTERLAND, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property net leased to AutoZone in Chesterland, about 30 miles east of Cleveland, for $1.4 million. The lease has approximately 10 years remaining. Dan Cooper of Cooper Group represented the buyer, a private investor based in Ohio. The seller was a Louisiana-based private investment group.

May 9, 2017

Industrial Loans Midwest Ohio

NorthMarq Arranges $2.6M Acquisition Loan for Distribution Center in Cincinnati

by Kristin Harlow May 4, 2017

CINCINNATI — NorthMarq Capital has arranged a $2.6 million loan for the acquisition of Crescentville Distribution Center in Cincinnati. The 83,679-square-foot facility is located at 500-518 Crescentville Road. Susan Branscome of NorthMarq arranged the 10-year loan, which includes a 25-year amortization schedule. A life insurance company provided the loan to the undisclosed borrower.

May 4, 2017

Indiana Michigan Midwest Ohio Restaurant Retail

Four Corners Acquires 16 Properties Leased to Bob Evans Restaurants for $35.1M

by Kristin Harlow May 2, 2017

INDIANA, MICHIGAN AND OHIO — Four Corners Property Trust (NYSE: FCPT) has acquired 16 properties occupied by Bob Evans Restaurants as part of a $35.1 million sale-leaseback transaction. The transaction was completed simultaneously with Golden Gate Capital’s acquisition of Bob Evans Restaurants from Bob Evans Farms Inc. In the Midwest, the properties are located in Indiana, Michigan and Ohio. The other properties within the portfolio are located in Delaware, Maryland, New York, Pennsylvania, Virginia and West Virginia. The properties are occupied under a single triple-net master lease with a 20-year initial term.

May 2, 2017

Loans Midwest Multifamily Ohio

RED Provides $37.7M Construction Loan for Multifamily Property in Suburban Columbus, Ohio

by Kristin Harlow May 1, 2017

NEW ALBANY, OHIO — RED Capital Partners has provided a $37.7 million loan for the construction of HQ Flats in New Albany, a northeast suburb of Columbus. CASTO is developing the 336-unit multifamily property, which will be located near the Hamilton Road and State Route 161 interchange. Terms of the non-recourse loan were not disclosed.

May 1, 2017

Loans Midwest Mixed-Use Ohio

Fairmount, DiGeronimo Receive $142M Construction Loan for 650,000 SF Mixed-Use Property in Cleveland Suburb

by Kristin Harlow April 28, 2017

ORANGE VILLAGE, OHIO — Fairmount Properties and the DiGeronimo Cos. have received a $142 million loan for the construction of Pinecrest, a 650,000-square-foot mixed-use project in the Cleveland suburb of Orange Village. More than 400,000 square feet of retail and restaurant space will include Whole Foods, REI, Silverspot Theaters, Pinstripes, West Elm, Williams Sonoma, Pottery Barn, Vineyard Vines and Kona Grill. The Offices at Pinecrest will consist of two adjoining 75,000-square-foot Class A office buildings, which will be positioned above the retail and restaurant component. Pinecrest will also feature a 145-room AC Hotel by Marriott, 87 high-end luxury apartments and a one-acre town center. The project is slated for completion in spring 2018. Trey Morsbach, Danny Kaufman and Jim Curtin of HFF arranged the loan with a syndicate of banks led by Huntington Bank, which also included KeyBank, First National Bank, First Commonwealth Bank and Flagstar Bank. HFF also assisted the developer in securing joint venture equity for the project in June 2016.

April 28, 2017

Industrial Loans Midwest Ohio

Bellwether Arranges $15.2M Loan for Refinancing of Industrial Property in Cuyahoga Falls, Ohio

by Kristin Harlow April 27, 2017

CUYAHOGA FALLS, OHIO — Bellwether Enterprise Real Estate Capital LLC has arranged a $15.2 million loan for the refinancing of an industrial property in Cuyahoga Falls, five miles north of Akron. The property currently serves as the main manufacturing facility for Gojo Industries Inc., a producer and marketer of skin health and hygiene solutions. Jeff Musser of Bellwether arranged the financing for Gojo Industries. The lender was not disclosed.

April 27, 2017

Newer Posts

Older Posts