Cleveland Luxury Property Receives $93M Refi

Bellwether Enterprise has closed a $93 million refinancing loan for Flats at East Bank Apartments, a luxury multifamily and retail property in Cleveland, Ohio. The credit facility, originated by Rialto for Wolstein Group, was used to refinance a bridge loan arranged for the property in 2017 by Bellwether Enterprise. Located at 1055 Old River Road, the 2015-built asset is in Cleveland’s waterfront district. The eight-story property features 241 one-, two-, and three-bedroom units, including penthouses as well as a parking garage and 60,000 square feet of retail space, including 13 on-site restaurants.