Cohen Financial closes $21 million loan for 404-unit apartment property in Ohio

August 29, 2014  |  Staff Writer  |  Print Article  |  Email this Article

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Cohen Financial has secured a $21.6 million refinancing for Shoregate Towers, a 404-unit multi-family property located on Lake Erie at 30901 Lake Shore Blvd. in Willowick, Ohio, a suburb of Cleveland. The loan closed in July of 2014.

Dan Rosenberg, managing director of Cohen Financial in the company’s Chicago office, secured the fixed rate, five-year term loan with a 30-year amortizing rate. The lender is Morgan Stanley, a Cohen financial conduit lender. The borrower is an East Coast commercial real estate owner/operator.

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