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Chicago & Midwest  + Midwest  + Finance  | 

Bellwether Refis Bridge Loan on Luxury Cleveland Multifamily

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Bellwether Enterprise Real Estate Capital has closed a $93-million refinancing loan for the Wolstein Group’s Flats at East Bank Apartments, a luxury multifamily and mixed-use retail property in downtown Cleveland. Jim Doyle, SVP of Bellwether Enterprise in the Cleveland office, arranged the loan for the Wolstein Group.

Doyle turned to Rialto Capital Management as the lender to refinance a bridge loan, which Bellwether had arranged for the property in 2017. The first mortgage loan was structured with an “A” note and “B” note structure, in which Apollo Global Management funded the “B” note.

“We appreciate the opportunity to work with the Wolstein family on financing this great project,” said Doyle. “In addition to offering a high-class living option in Cleveland’s bustling downtown area, it also includes the sought-after features that today’s tenant demands.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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