Multifamily news in Cleveland
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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.
22 July 2019 11:46 -
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.
01 July 2019 17:06 -
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.
13 June 2019 16:07 -
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.
19 March 2019 14:48 -
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.
11 February 2019 09:01 -
Grandbridge Real Estate Arranges Refi for 132-Unit OH Property
Funded through one of Grandbridge's insurance company correspondents, the $1.8 million loan closed with an interest rate of 5.01 percent.
25 January 2019 13:05 -
Cleveland’s Rent Growth Picks Up the Pace
With demographic contraction moderating and demand improving, rent growth in Cleveland is once again accelerating, at 2.2 percent year-over-year through October 2018.
10 January 2019 11:35 -
Evergreen Real Estate Grows Affordable Housing Management Portfolio
The Chicago-based firm added nine communities totaling more than 1,000 affordable housing units located in Illinois, Kansas, Ohio and Wisconsin.
08 January 2019 09:17 -
Cleveland’s Crystal Tower Changes Ownership
K&D sold the 268-unit building to Odin Properties in a $6.6 million deal. The purchase involved a $5.8 million loan held by Firstrust Bank.
16 November 2018 15:30 -
Cornerstone Managed Properties Buys Cleveland-Area Community
The $4 million sale of the 144-unit, fully occupied community was subject to a $4.8 million acquisition and development loan.
14 November 2018 15:58 -
PNC Bank Secures $33M Loan for Cleveland-Area Community
The Hamptons Luxury, located in Beachwood, Ohio, is owned by a joint venture between Millennium Management and Forest City Enterprises.
14 November 2018 14:34 -
KeyBank Provides $39M Loan for Historic Cleveland Community
The financing comprises three different types of loans, which will contribute to the redevelopment and preservation of Commodore Apartments, a 198-unit property.
23 October 2018 14:30 -
Downtown Cleveland Redevelopment Receives $40M Loan
With the construction loan secured by Berkadia, the former John Hartness Brown complex will be reinvented as The Euclid Grand, a mixed-use development.
15 October 2018 14:53 -
Income Property Organization Facilitates 308-Unit OH Transaction
The Shaker Square Apartments portfolio encompasses 15 buildings in Shaker Heights. The $18.7 million deal was brokered by IPO’s Paul McHugh.
18 September 2018 14:36 -
Downtown Boom Drives Demand in Cleveland
The metro’s urban core reached a milestone of 15,000 residents and more than 95,000 jobs in 2017, making it the largest downtown in Ohio.
02 August 2018 13:11