Multifamily news in Cleveland
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Demand Dampens Amid Building Surge in Cleveland
Although underperforming against the U.S. average, the area's multifamily market remains stable, fueled by the revitalization of the city’s core.
23 March 2018 14:03 -
Iconic Cleveland Building Changes Hands for $40M
Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale of the 295-unit Statler Arms. Michael Barron, Joshua Wintermute and Daniel Burkons represented the buyer.
07 February 2018 14:57 -
Cleveland-Area Community Lands $25M Fannie Mae Loan
Located in Willowick, Ohio, Shoregate Towers features 404 units. Dougherty’s Minneapolis office arranged the 15-year loan with a 30-year amortization schedule.
11 December 2017 08:22 -
Downtown Growth Drives Demand in Cleveland
Although underperforming in the current cycle, the area's multifamily market is on sound footing, mainly due to the city’s thriving core.
06 December 2017 15:25 -
Dougherty Arranges Refi for 77-Unit Community in Ohio
The national mortgage banking firm closed a Fannie Mae loan for Legends Pointe in Canton, Ohio. Dougherty’s Minneapolis office worked for borrower Legends Pointe Apartments.
20 November 2017 15:29 -
Cleveland Hotel to be Converted Into Senior Housing
The Lake County Ohio Port and Economic Development Authority completed a $49 million bond financing packaging for Tapestry Wickliffe to transform the building.
09 November 2017 13:42 -
Dougherty Closes Cleveland Portfolio Loan
The Fannie Mae loan will refinance six market-rate properties, totaling 238 units. Dougherty’s Minneapolis office arranged the financing for borrower Central Real Estate Holding.
04 October 2017 13:32 -
All Eyes on Core in Cleveland
The city's market is growing slowly, particularly in submarkets outside the urban core that still face difficulties stemming from the last downturn.
08 September 2017 16:28 -
Construction Begins on Cleveland Affordable Housing
Detroit Shoreway Community Development Organization is starting work on Aspen Place, a development in the Cleveland EcoVillage. The company plans to achieve a near-50 percent reduction in energy demand compared to minimum requirements.
30 August 2017 08:26 -
Green Bridge Closes Bulk Cleveland Sale
Investment Group purchased the assets for $2.9 million. The 90-unit portfolio will undergo a renovation process, estimated to cost between $100,000 and $300,000.
21 August 2017 20:26 -
BGL Completes Financing for Cleveland Waterfront Community
The independent investment bank advised The Landmark Cos. on the acquisition of Quay 55, a historic building that will undergo an ample transformation process and rebranding.
02 August 2017 14:01 -
The Edge on Euclid Begins Leasing
The 262,000-square-foot luxury student housing community offers one- to four-bedroom units. The community is in close proximity to Cleveland State University Campus.
17 July 2017 16:46 -
Landmark Lands Cleveland Lakeshore Community
Quay 55, a former warehouse converted to apartments, is now in the hands of an affiliate of Landmark Cos. Deancurt Realty Group sold the Lake Erie shoreline property after six years of ownership.
17 July 2017 16:38 -
JVM Realty Renovates 4 Suburban Cleveland Communities
Makeovers are underway at the 366-unit Royal Oaks Apartments in North Royalton, the 300-unit Dover Farms in North Royalton, the 261-unit Butternut Ridge in North Olmsted and the 258-unit Hidden Lake Apartments in Stow.
08 June 2017 14:37 -
Construction of $62M Cleveland Tower to Start in June
Stark Enterprises Inc. and Solon-based real estate investor Reuven Dessler plan to break ground on the 26-story tower in less than three months.
30 March 2017 17:53