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Gordon Crossing
Affordable HousingDevelopmentMidwestNewsOhio

Frontline Development, Woda Cooper Break Ground on $17.6 Million Affordable Housing Project in Cleveland

by Channing Hamilton

CLEVELAND — Frontline Development Group LLC and Woda Cooper Cos. Inc. have broken ground on Gordon Crossing, a $17.6 million affordable housing development in Cleveland. The four-story development will feature 42 two-bedroom and 12 three-bedroom apartments. Gordon Crossing will be available to households earning up to 80 percent of the area median income. Rents are expected to range from $362 to $1,699, depending on household income and unit size. Residents will have access to shared amenities such as a community room with kitchenette, on-site management office, parcel room and outdoor …

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Mural Lewis Center in Columbus, Ohio
Build-to-RentDevelopmentMidwestNewsOhio

Joint Venture Breaks Ground on 120-Unit Build-to-Rent Project Near Columbus, Ohio

by Channing Hamilton

LEWIS CENTER, OHIO — A joint venture between Buckingham and Onyx+East has broken ground on Mural Lewis Center, a 120-unit build-to-rent (BTR) project in Lewis Center, roughly 20 miles north of Columbus, Ohio. The community will offer a mix of two- to four-bedroom homes ranging from 902 to 2,685 square feet. Units will include attached two-car garages and private outdoor spaces. The first units will be available for rent beginning in December. Home and yard maintenance services will be included. Residents have access to shared amenities such as a playground, …

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The Commons at Water’s Edge in Columbus, Ohio
Investment SalesMidwestNewsOhio

Reynolds Asset Management Acquires 432-Unit Community in Columbus, Ohio

by Channing Hamilton

COLUMBUS, OHIO — Reynolds Asset Management, in partnership with the Slabotsky Family Office, has purchased The Commons at Water’s Edge in Columbus for an undisclosed price. George Skaff, Carter Stephens and Julie Mickley of Newmark brokered the transaction, while Henry Stimler and Ricky Warner of Newmark procured the debt. The Commons at Water’s Edge offers 432 units in one- and two-bedroom configurations. The new ownership plans to invest over $10 million to overhaul the property. Renovations are expected to begin immediately and will continue through 2026.

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Colony Lofts in Toledo, Ohio
DevelopmentMidwestNewsOhio

Continental, Hallmark Deliver Colony Lofts in Toledo, Ohio

by Channing Hamilton

TOLEDO, OHIO — Continental Real Estate Cos. and Hallmark Communities have completed development of Colony Lofts, a 262-unit community in Toledo. Colony Lofts offers amenities such as a pool, grilling stations, fitness center, business center, clubhouse and coffee bar. The property also includes retail spaces, electric vehicle charging stations and an outpost of Central Ohio restaurant chain The Old Bag of Nails Pub. Monthly rents start at $964 for a studio unit, according to the property’s website. Coastal Ridge is the property manager.

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Jalen Lofts in Trotwood, Ohio
DevelopmentFinanceMidwestNewsOhio

KeyBank Provides $23 Million in Construction Financing for Affordable Housing Community in Trotwood, Ohio

by Channing Hamilton

TROTWOOD, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided $23 million in financing for the construction of Jalen Lofts in Trotwood, roughly 8 miles northwest of Dayton, Ohio. Derek Reed and David Lacki of KeyBank CDLI structured the financing, which includes a $9.8 million construction loan, a $3.7 million permanent loan and $9.4 million in low-income housing tax credit financing.  Jalen Lofts will feature 66 workforce and affordable housing units, which will be available to families who earn between 30 and 80 percent of the area median …

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Xander on State in Columbus, Ohio
FinanceInvestment SalesMidwestNewsOhio

RM Communities, Crawford Hoying Receive $30.5 Million Acquisition Loan for Xander on State in Columbus, Ohio

by Channing Hamilton

COLUMBUS, OHIO ­— RM Communities and Crawford Hoying have secured a $30.5 million acquisition loan for Xander on State, a 229-unit community located at 265 East State St. in downtown Columbus’s Discovery District. Brian Gaswirth, Jesse Wright, Joshua Odessky and Shane Ciacci of JLL Capital Markets arranged the loan through ACRE. Built in 2020, Xander on State offers a mix of studios, one- and two-bedroom units. Residents have access to amenities including a pool, entertainment area, fitness center and theater room. The property also features 2,681 square feet of ground …

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Company NewsMidwestNewsOhioOperations

TCAM Asset Management Rebrands as MRI Asset Management Services

by Channing Hamilton

SOLON, OHIO — TCAM Asset Management, an affordable housing service provider that was acquired by Solon-based property technology firm MRI Software in 2018, is rebranding as MRI Asset Management Services. The company will continue to provide asset management and consulting services to developers, owners and funders of affordable housing. TCAM Asset Management, now MRI Asset Management Services, was originally established in 2009. The company serves clients for roughly 1,600 properties and 176,000 apartments across 48 states, Washington, D.C. and Puerto Rico.

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The Encore Southpark in Charlotte, North Carolina
FinanceMidwestNewsOhio

BWE Arranges $260 Million Refinancing for 1,500-Unit Portfolio Across Four States

by Channing Hamilton

CLEVELAND — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a portfolio of six properties totaling roughly 1,500 units. The company is based in Cleveland. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the …

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Company NewsDevelopmentMidwestNewsOhioPeople News

Woda Cooper Cos. Adds Two Professionals as Development Officers

by Channing Hamilton

COLUMBUS, OHIO — Woda Cooper Cos. Inc., a developer and property manager headquartered in Columbus, has added two professionals as development officers.  The company hired Malik Jordan to the role of senior vice president of development. In this role, Jordan will oversee development projects that involve housing, capital projects and community engagement. Jordan received a bachelor’s degree in English from Coppin State University and a master’s degree in urban and regional planning from Georgetown University. Jordan has 16 years of experience and is a board member for GEDCO, a faith-based …

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DevelopmentMidwestNewsOhio

Vista Residential Partners Breaks Ground on 308-Unit Trailhead Vista in Newark, Ohio

by Channing Hamilton

NEWARK, OHIO — Vista Residential Partners has broken ground on Trailhead Vista, a 308-unit development in Newark, about 40 miles east of Columbus. The garden-style community will offer a mix of one- and two-bedroom units averaging 862 square feet. Planned amenities include a clubhouse, pool, fitness center, central green area and pet park. Trailhead Vista is situated on 15.6 acres along the Thornwood Corridor Employment Hub, which is comprised of five industrial parks totaling more than 1,600 acres. The property will also offer access to the TJ Evans Trail, a …

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