TWO LOANS TOTALING $13.35 MILLION CLOSE IN BRECKSVILLE, OHIO

BRECKSVILLE, OHIO — Columbus, Ohio-based Morris, Smith & Feyh (MS&F) has recently closed two loans totaling $13.35 million. In the first transaction, Grand Bay Apartments received a $12.15 million first mortgage loan through one of MS&F’s correspondent life insurance companies. Located in Brecksville, the 184-unit multifamily community offers 166 two-bed/two-bath units and 18 three-bed/two-bath units. Jeffrey Morris of MS&F originated the loan, which has a term of 7 years with a 30-year amortization and a 6.5 percent fixed interest rate. In the second transaction, Morris originated a $1.2 million loan for a 58,320-square-foot, two-building office property in Brecksville. The 10-year loan has a 20-year amortization schedule and a 7.5 percent interest rate.