Cushman & Wakefield Brokers Arrange $45.7M Loan For Cleveland Office Tower Acquisition

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.