Newtek Bank Provides $8.2 Million Refinance Loan For Office Asset In Cleveland, OH

The property asset involved in this transaction is an office building located at 6200 Oak Tree Boulevard, Cleveland, OH. The building encompasses a total square footage of 180,866. The transaction involved a loan amount of $8,200,000 and is classified as a refinance.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $8,200,000
• Loan Type: Refinance
• Loan Terms: 5 year term, fixed at 7.50%
• Lender: Newtek Bank
• Broker: Elliott Birnbaum - Meridian Capital Group

This refinance transaction was facilitated by Elliott Birnbaum, representing Meridian Capital Group, who acted as the broker in the deal. The involvement of Newtek Bank as the lender is also a key component in this transaction process.