{"id":1004286506,"date":"2018-12-17T10:01:27","date_gmt":"2018-12-17T18:01:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004286506"},"modified":"2022-12-08T14:17:24","modified_gmt":"2022-12-08T22:17:24","slug":"cleveland-office-tower-receives-100m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/","title":{"rendered":"Cleveland Office Tower Receives $100M Refi"},"content":{"rendered":"<p>By Timea Matyas<\/p>\n<div id=\"attachment_1004286509\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004286509\" data-attachment-id=\"1004286509\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/ernst-young-office-tower\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\" data-orig-size=\"1347,1011\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Timea Matyas&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1545055886&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Ernst &#038; Young Office Tower\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Ernst &#038; Young Office Tower&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg?w=1024\" class=\"wp-image-1004286509 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\" alt=\"Ernst &amp; Young Office Tower\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg 1347w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004286509\" class=\"wp-caption-text\">Ernst &amp; Young Office Tower<\/p><\/div>\n<p>Berkadia has secured $100 million in refinancing for Ernst &amp; Young Office Tower, a property located in downtown Cleveland. The Wolstein Group received the loan through JP Morgan, with mezzanine debt from Axonic. The two-year permanent financing features an adjustable interest rate, three one-year extension options, an 80 percent loan-to-value ratio and interest-only payments.<\/p>\n<p>Located at 950 Main Ave. in Cleveland&#8217;s waterfront district, the 23-story Ernst &amp; Young Office Tower is very close to dining facilities and several transportation means, including an Amtrak station. Completed in 2013, the asset features 465,000 square feet of leasable office space. On-site amenities include garage parking, a dry cleaner and a fitness center. At the time of the financing, the building was 95 percent occupied.<\/p>\n<p>Senior Managing Director Mark Vogel and Associate Director Eric Bevilacqua of Berkadia&#8217;s Cleveland office secured the refinancing on behalf of The Wolstein Group.<\/p>\n<p>In November, <a href=\"https:\/\/www.commercialsearch.com\/news\/berkadia-secures-45m-loan-for-ct-portfolio\/\">Berkadia secured $45 million for the Powers Industrial Portfolio<\/a>, a 17-building mix of industrial and warehouse facilities in Danbury, Conn.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located in the waterfront district of the city, the 23-story Ernst &amp; Young Office Tower features 465,000 square feet of leasable space.<\/p>\n","protected":false},"author":1274,"featured_media":1004286509,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21825,13,21742,21747],"tags":[32894,34620,32972],"class_list":["post-1004286506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cleveland","category-finance","category-midwest","category-latest","category-office","tag-berkadia","tag-ernst-and-young-llp","tag-jp-morgan-chase-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cleveland Office Tower Receives $100M Refi - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cleveland Office Tower Receives $100M Refi\" \/>\n<meta property=\"og:description\" content=\"Located in the waterfront district of the city, the 23-story Ernst &amp; Young Office Tower features 465,000 square feet of leasable space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-17T18:01:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:17:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1347\" \/>\n\t<meta property=\"og:image:height\" content=\"1011\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea Matyas\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/\",\"name\":\"Cleveland Office Tower Receives $100M Refi - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\",\"datePublished\":\"2018-12-17T18:01:27+00:00\",\"dateModified\":\"2022-12-08T22:17:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg\",\"width\":1347,\"height\":1011,\"caption\":\"Ernst & Young Office Tower\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cleveland Office Tower Receives $100M Refi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2\",\"name\":\"Timea Matyas\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g\",\"caption\":\"Timea Matyas\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/timeamatyas\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cleveland Office Tower Receives $100M Refi - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/","og_locale":"en_US","og_type":"article","og_title":"Cleveland Office Tower Receives $100M Refi","og_description":"Located in the waterfront district of the city, the 23-story Ernst &amp; Young Office Tower features 465,000 square feet of leasable space.","og_url":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-12-17T18:01:27+00:00","article_modified_time":"2022-12-08T22:17:24+00:00","og_image":[{"width":1347,"height":1011,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg","type":"image\/jpeg"}],"author":"Timea Matyas","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/","url":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/","name":"Cleveland Office Tower Receives $100M Refi - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg","datePublished":"2018-12-17T18:01:27+00:00","dateModified":"2022-12-08T22:17:24+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg","width":1347,"height":1011,"caption":"Ernst & Young Office Tower"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/cleveland-office-tower-receives-100m-refi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Cleveland Office Tower Receives $100M Refi"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2","name":"Timea Matyas","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g","caption":"Timea Matyas"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/timeamatyas\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Ernst-Young-Office-Tower-e1545051944388.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004286506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1274"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004286506"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004286506\/revisions"}],"predecessor-version":[{"id":1004614465,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004286506\/revisions\/1004614465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004286509"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004286506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004286506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004286506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}