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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.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

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