Fairmount, DiGeronimo Secure $171.5M Refi for Cleveland-Area MXU

A partnership between Cleveland-based Fairmount Properties, the DiGeronimo Companies and an unnamed Northeast investment manager received $171.5 million in refinancing for Pinecrest. The roughly 750,000-square-foot, mixed-use lifestyle project is located in the Cleveland suburb of Orange Village, OH.

HFF’s Trey Morsbach and Jim Curtin worked on behalf of the borrower to place the floating-rate loan with Square Mile Capital Management LLC. Loan proceeds will be used to refinance the existing construction debt.

Completed in spring 2018, Pinecrest comprises 400,000 square feet of high-caliber retail, including a mix of stores, restaurants and entertainment anchors new to the region and exclusive to the center.

The office component consists of two adjoining Class A office buildings totaling 160,000 square feet, above the retail and restaurant component. The property also features 87 high-end apartments, and a one-acre Central Park along with a 145-room AC Hotel by Marriott that is not included in the financing.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Fairmount, DiGeronimo Secure $171.5M Refi for Cleveland-Area MXU

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