Cleveland
FOURMIDABLE Expands Ohio Management Portfolio
The Village at Arlington I & II is located in Youngstown and comprises 120 affordable units, a playground and a computer center.
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.
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.
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.
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.
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.
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.
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.
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.
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.