KeyBank Provides $50M Loan To Playhouse Square For Multifamily Property In Cleveland, Ohio

The multifamily property located at 1600 Euclid Ave in Cleveland, Ohio has recently undergone a closed transaction. The property consists of 318 units and is part of the Playhouse Square district.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $50,000,000
• Address: 1600 Euclid Ave, Cleveland, Ohio
• Market: Cleveland, Ohio
• Lender: KeyBank
• Landlord: Playhouse Square - Craig Hassall

In this deal, KeyBank provided a loan of $50,000,000 to Playhouse Square for the acquisition of the multifamily property. The loan terms include a fixed-rate and five years of interest-only payments.