Cleveland
Marcus & Millichap Names Midwest SVP
Michael Glass has been with the company for almost two decades, having held various positions, including first vice president.
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.
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.
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.
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.
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.
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.
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.
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.
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.