Deals - Cleveland

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.
Slideshow
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.
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Berkadia Secures $50M in Financing for Cleveland Project
The company secured the loan from Related Fund Management for the development of Centric Apartments, a 272-unit community.
Market Rate

  • New $13M Condo Project Planned in Cleveland

    Local investors are planning the construction of Quattro, a 26-unit condominium building in the Little Italy neighborhood.

    24 October 2016 02:52

  • Out-of-State Investor Buys 70 Units in East Cleveland

    The 70-unit Parkview Estates Apartments in East Cleveland, Ohio was bought by Florida-based investors for $850,000, or $12,142 per unit.

    29 February 2016 18:08

  • Forest City Closes Sale of Military Housing Business for $208.8M

    Hunt Companies acquired the military housing business from Forest City Realty Trust for $208.8 million.

    24 February 2016 19:18

  • Nonprofit Developer Maintains Affordable Rents in Cleveland

    Mission-driven Community Builders has acquired the Commodore Place Apartments in Cleveland, which will continue to operate as a mixed-income housing community.

    03 December 2015 20:14

  • Joint Venture Buys Cleveland-Area Shopping Center for $47M

    A joint venture between two east coast companies has purchased the Golden Gate Shopping Center in Mayfield Heights. New York-based Hornig Capital Partners, LLC and Hutensky Capital Partners of Hartford, Connecticut, have paid $47.05 million for the premier retail plaza. Cleveland-based Forest City was the seller. The deal represents one of the largest single asset retail sales in the Cleveland market during the past two years.

    04 July 2014 04:50

  • Devonshire REIT Buys Beachwood’s Pavilion Shopping Center for $35M

    Devonshire REIT, Inc. announced on Monday, June 16, the addition of a new grocery-anchored power center to its 44-property portfolio. The real estate investment trust paid $35 million to acquire the Pavilion Shopping Center, located in the Cleveland suburb of Beachwood. Huntington Bank provided financing for the transaction.

    20 June 2014 23:05

  • Local Investors Buy Historic Aurora Inn, Plan Full Renovation

    A group of local investors has acquired the historic Aurora Inn this month. Led by Dan Bliss, Stephen Mansfield and Matt Lopatin, Aurora Hotel Partners, LLC plans to invest into this well-known fixture in the center of Aurora’s historic district and give it a full makeover.

    25 April 2014 16:36

  • Marcus & Millichap Arranges Sale of North Olmsted Towne Center for $17.8M

    Large retail properties in the Greater Cleveland area have seen a lot of action in the final quarter of 2013. Recently, Devonshire REIT, Inc. has paid $8 million for the Great Lakes Plaza in Mentor, while the Starwood Capital Group has acquired two shopping centers in North Olmsted and Canton, as part of a $1.6 billion, seven-property portfolio.

    07 January 2014 04:51

  • Starwood Buys Two Northeast Ohio Malls as Part of $1.6B Deal

    Starwood Capital Group, a Greenwich, Conn.-based investment firm, has completed last week the acquisition of seven dominant regional malls in four states, on the West Coast and in the Midwest. The deal was announced in September. Two Northeast Ohio shopping centers are also included in the portfolio.

    26 November 2013 14:37

  • Smartland Buys Lee-Yorkshire Apartments in Cleveland Heights

    Smartland, Cleveland’s largest real estate investment firm and one of Ohio’s top property management companies, has purchased the Lee-Yorkshire Apartments. The price of the transaction was not disclosed.

    05 November 2013 06:20

  • Inland Real Estate Buys University Heights Shopping Center

    Inland Real Estate Corporation has acquired a Cleveland-area shopping center in a joint venture with Dutch pension fund advisor PGGM. The purchase price was $24.9 million, excluding closing costs and adjustments. The joint venture also assumed an $18.4 million property-level loan with a two-year term, which it expects to pay off or refinance upon maturity.

    22 October 2013 03:49

  • Forest City Sells Cleveland’s Higbee Building to Horseshoe Casino Owners

    Forest City Enterprises, Inc. finalized last week the sale of the 14-story Higbee Building, one of Cleveland’s most renowned historic places. Rock Ohio Caesars LLC is the property’s new owner. It opened the Horseshoe Casino Cleveland there last year.

    06 August 2013 04:28

  • Hackman Capital JV Acquires 16 Cleveland-Area Buildings as Part of 28-Asset Ohio Industrial Portfolio

    A joint venture led by Hackman Capital Partners LLC, a privately held, asset-based investment firm headquartered in Los Angeles, has recently purchased 28 industrial buildings and two land parcels located in the state of Ohio. The transaction of the industrial real estate portfolio totaling 2,593,602 square feet closed on Friday, June 14. Hackman Capital Partners did not disclose the purchase price.

    01 July 2013 04:14