CINCINNATI—Cushman & Wakefield recently secured a $35.50 million permanent CMBS loan and a $34.68 million construction loan from Deutsche Bank for the financing of AT580, a 17-story mixed-use tower located at 580 Walnut St. in Cincinnati's CBD. After a few tough years, the downtown here, like many across the Midwest, has started attracting new office tenants and residents, and that is bringing in new investment.
Phil Mudd and Brad Geiger of C&W were exclusive agents for owner/developer Anderson Birkla Investment Partners, LLC.
The firm acquired AT580 out of receivership in 2013 and embarked on redeveloping the office and retail property into office, retail, garage and multifamily components. Anderson Birkla condominiumized each of the four individual components and sought two separate loans totaling $70.18 million. The office, retail and garage condominiums secured permanent financing, and only the multifamily condominium secured the construction loan.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
