Brecksville, Ohio — Brown Gibbons Lang & Co. (BGL) has secured development financing for the second phase of Valor Acres, a mixed-use project located in Brecksville, approximately fifteen miles south of Cleveland. BGL secured the financing on behalf of the developer and borrower, DiGeronimo Cos. in the transaction. Upon completion, the second phase will comprise 70,000 square feet of retail and entertainment space, 44,000 square feet of office space, 221 apartment units, a 700-space parking garage and an on-site safety station. Fifth Third Bank and First Commonwealth Bank provided the senior construction debt financing.
DiGeronimo Cos. previously received financing for the first phase of the project, which includes multifamily and townhome residences and was completed in 2023. DiGeronimo Cos. has also received tax credit financing and Cleveland-Cuyahoga County Port Authority incentives for the development.