Multifamily news in Cleveland
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Capstone Real Estate Acquires Ohio Student Housing
Rialto Capital Management sold the 471-bed property located in Akron for $12.5 million.
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Cleveland Multifamily Report – Summer 2020
The metro's average rate went up 0.4 percent in three months, while the U.S. figure slid 0.2 percent.
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Top 5 Markets for Multifamily Development in Ohio
As of May, nearly 18,000 units were underway in the Buckeye State, based on Yardi Matrix data.
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Pennrose Moves Forward with 2 Ohio Projects
The Ohio Housing Finance Agency has provided housing tax credits to develop affordable housing in Cincinnati and Cleveland.
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TSB Capital Advisors Arranges Financing for Cleveland Development
Apart from the three-bank loan, the project also received funding from state and local authorities.
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Luxury Project Starts Construction in Ohio
Flaherty & Collins Properties is building the $80 million community in Cleveland Heights.
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Marcus & Millichap Names Midwest SVP
Michael Glass has been with the company for almost two decades, having held various positions, including first vice president.
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Cleveland Multifamily Report – Winter 2020
Boosted by the ongoing revival of the city core, the metro's rental market wrapped up 2019 on a positive note.
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Matthews Real Estate Adds Vice President of Multifamily
Robert Starrett will focus on growing the company’s presence throughout the Midwest. He previously served as the director of finance and acquisitions for The Mid-America Management Corp.
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Berkadia Secures $68M Loan for Cleveland Community
Director Dan Geuther arranged the Freddie Mac loan on behalf of Midwest Development Partners, the developer of Centric Apartments.
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Cleveland Multifamily Report – Summer 2019
The metro's multifamily sector remained relatively stable in early 2019, with rents increasing 2.4 percent year-over-year through May, just 10 basis points below the national average.
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NRP Group Breaks Ground on Cleveland Affordable Housing Project
Residences at Cornerstone will bring 76 units to the Euclid-Green neighborhood. The development is part of a mixed-age community that includes Cornerstone Senior Apartments.
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Northeast Ohio Portfolio Scores $67M Refi
The 10-year Freddie Mac loan is retiring existing acquisition financing for the 1,137-unit Timber Top and the 114-unit Timberland Village, both located in Akron.
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The Snavely Group Buys 32-Building Cleveland Asset
Willogrove encompasses 384 units and is located in the city’s Willoughby submarket. The sale involved a $21.4 million loan held by First National Bank of Pennsylvania.
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KeyBank Provides $12M for Cleveland Adaptive Reuse Project
Snavely Group will use the financing to create 38 affordable units at Forest City Square Apartments, an environmentally friendly housing development.