Cushman & Wakefield Brokers Arrange $45.7M Loan For Cleveland Office Tower Acquisition | 200 South Roadway | Chase Johnson, Caleb Riebe | Office | Loan

Summary

Loan

OHIO

Office

1,300,000 sqft

The property involved in the transaction is a 1.3 million-square-foot office tower located at 200 South Roadway in Cleveland, Ohio. The acquisition loan amount for the property was $45,700,000. The tower was originally constructed in 1985 for BP America and is currently undergoing improvements to enhance its appearance, amenities, and infrastructure. With 357,767 square feet of available office space, the property is being marketed for lease by Colliers.

Summary of transation details:

Property Type: Office
Transaction Amount: $45,700,000
LANDLORD: Igal Namdar - Namdar Realty Group ; Mason Asset Management
BROKERS: Caleb Riebe & Chase Johnson - Cushman & Wakefield

The acquisition of the 1.3 million-square-foot office tower was facilitated by Caleb Riebe and Chase Johnson of Cushman & Wakefield, who arranged a $45.7 million financing through a life insurance company for Namdar Realty Group and Mason Asset Management. This deal highlights the strategic partnership between these two landlord entities and the brokerage expertise provided by Riebe and Johnson.

Players

All
3

Agents
2
Agencies
1

Chase Johnson

Vice Producer

$43.7M Sold

Caleb Riebe

Senior Financial Analyst

Cushman & Wakefield

Details

Deal Summary

FINANCED

IMAGE: Chase Johnson, Caleb Riebe & Igal Namdar DATE: 04/16/2024 ADDRESS: 200 South Roadway MARKET: Cleveland, Ohio ASSET TYPE: Office ~ SF: 1,300,000 LANDLORD: Igal Namdar - Namdar Realty Group (@NamdarLLC); Mason Asset Management (@MasonAssetMgmt) BROKERS: Caleb Riebe & Chase Johnson - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $45,700,000 LOAN TYPE: Acquisition Loan NOTE: Namdar Realty Group and Mason Asset Management have acquired 200 Public Square, a 1.3 million-square-foot office tower in Cleveland, originally constructed for BP America in 1985, with recent improvements underway to enhance appearance, amenities, and infrastructure. The property currently offers 357,767 square feet of available office space, with Colliers marketing it for lease, while financing of $45.7 million for the acquisition was arranged through a life insurance company by Chase Johnson and Caleb Riebe of Cushman & Wakefield.

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Address200 South Roadway

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