Updated Nov 9, 2026
The Schirm Firm Acquires Trotters Park Multifamily Property In Columbus For $17.5M With Byline Bank Loan
720 Michigan Avenue
$17,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 21, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 720 Michigan Avenue in Columbus, Ohio. The property was acquired by The Schirm Firm, and a term loan of $17,500,000 was secured for this acquisition. The financing reflects a continued partnership between the lender and the buyer, further solidifying their business relationship.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Lender: Sarah Hunter, Mason Tittle, Matt Smith & Eric Estela - Byline Bank
- Landlord: Bill Carey - The Schirm Firm
- Loan Type: Acquisition
This transaction marks the fourth collaboration between Byline Bank and The Schirm Firm, a fourth-generation, family-owned real estate firm. The successful closing of this deal enhances The Schirm Firm's national portfolio and continues their longstanding relationship with the lender.
On the Map
$17,500,000
MultiFamily
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Players
Columbus MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93