Streetsboro, Ohio — Envoy Net Lease Partners LLC has provided a $1 million-plus loan on a corporate ground lease for a Wendy’s restaurant in Streetsboro, roughly 20 miles north of Akron. The real estate finance company, who specializes in single-tenant, net leased commercial properties, financed 100 percent of the total project cost and allowed the undisclosed borrower to retain full control and ownership of the property. Construction on the 2,565-square-foot restaurant is slated for completion Dec. 1, 2017.
DDR, Madison International Realty Close $1.05 Billion Recapitalization of DDR Domestic Retail Fund I
Beachwood, Ohio — Beachwood-based DDR Corp. and an affiliate of Madison International Realty have closed the $1.05 billion recapitalization of a joint venture with 52 shopping centers previously owned by DDR and various partners through the DDR Domestic Retail Fund I.
Orange Village, Ohio — HFF has secured $142 million in financing for the development of Pinecrest, a 650,000-square-foot mixed-use development located in the Cleveland suburb of Orange Village.
Fairfield, Ohio — Cooper Commercial Investment Group has arranged the sale of a net leased Starbucks Coffee property in Fairfield, a suburb of Cincinnati, for $1.7 million.
Cincinnati — Cincinnati-based Phillips Edison & Company has sold five shopping centers totaling 583,000 square feet to Albanese Cormier Holdings.
Elyria, Ohio — Integra Real Estate Capital has arranged a $17.5 million bridge loan for the acquisition of Midway Market Square in Elyria, located roughly 23 miles west of Cleveland.
Avon, Ohio — Marcus & Millichap has arranged the sale of Center Plaza in Avon, about 20 miles west of Cleveland, for $4.4 million.
Zanesville, Ohio — Time Equities Inc. has acquired Colony Square, a 425,430-square-foot enclosed regional mall located in Zanesville, for $31.5 million.
Cincinnati — Hines Global REIT II has acquired Rookwood Pavilion and Rookwood Commons in Cincinnati.
Forest Park, Ohio — Phillips Edison & Co. is set to begin the redevelopment of Civic Center Shopping Center, an 87,757-square-foot shopping center located in the Cincinnati suburb of Forest Park.