{"id":1004311964,"date":"2019-03-28T04:11:21","date_gmt":"2019-03-28T12:11:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004311964"},"modified":"2019-03-28T04:11:21","modified_gmt":"2019-03-28T12:11:21","slug":"oh-retail-development-receives-19m-construction-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/","title":{"rendered":"OH Retail Development Receives $19M Construction Financing"},"content":{"rendered":"<div id=\"attachment_1004311967\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004311967\" data-attachment-id=\"1004311967\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/royalton-collection\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg\" data-orig-size=\"708,530\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;William Colvin&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1523188641&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=\"Royalton Collection\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Royalton Collection&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg?w=708\" class=\"wp-image-1004311967 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg\" alt=\"Royalton Collection\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg 708w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004311967\" class=\"wp-caption-text\">Royalton Collection<\/p><\/div>\n<p>Berkadia has secured a $19 million construction financing for Royalton Collection, a retail development in Strongsville, Ohio. The three-year, interest-only loan represents 73 percent loan-to-cost, carries a competitive interest rate and was closed with 50 percent of the retail space pre-leased.<\/p>\n<p>Located at 17800 Royalton Road, Somera Road\u2019s development will include approximately 74,000 square feet and will be anchored by HomeGoods, with Panera Bread and Outback Steakhouse outparcels. The asset is within close proximity to interstates 71 and 80, with several shopping centers on a 2-mile radius.<\/p>\n<p>Director Dan Geuther of Berkadia\u2019s Cleveland office secured the construction financing through CIBC Bank. Geuther was recently involved in the <a href=\"https:\/\/www.commercialsearch.com\/news\/berkadia-finances-cleveland-us-bank-center\/\">$33.2 million financing arranged for U.S. Bank Center<\/a> in Cleveland.<\/p>\n<p><em>\u201cSomera took a unique approach to this transaction by acquiring a vacant office building and successfully rezoning the land to permit retail development; thereby adding significant value to the site. This creative entry to the transaction, combined with significant pre-leasing from a high-quality tenant roster, should enable Somera to generate superior returns for its investors,\u201d<\/em> Geuther said, in a prepared statement.<\/p>\n<p><em>Rendering courtesy of Berkadia<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The three-year, interest-only loan secured by Berkadia represents 73 percent loan-to-cost and was closed with 50 percent of the retail space pre-leased. <\/p>\n","protected":false},"author":1274,"featured_media":1004311967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21782,21825,13,21742,21749],"tags":[32894,44945],"class_list":["post-1004311964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cleveland","category-development","category-finance","category-midwest","category-latest","category-retail","tag-berkadia","tag-cibc-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>OH Retail Development Receives $19M Construction Financing - 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\/oh-retail-development-receives-19m-construction-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OH Retail Development Receives $19M Construction Financing\" \/>\n<meta property=\"og:description\" content=\"The three-year, interest-only loan secured by Berkadia represents 73 percent loan-to-cost and was closed with 50 percent of the retail space pre-leased.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/\" \/>\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=\"2019-03-28T12:11:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"708\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/\"},\"author\":{\"name\":\"Timea Matyas\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d364eed718d001d2f28b9e07694ebfc2\"},\"headline\":\"OH Retail Development Receives $19M Construction Financing\",\"datePublished\":\"2019-03-28T12:11:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/\"},\"wordCount\":193,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/03\\\/Royalton-Collection-e1553702823567.jpg\",\"keywords\":[\"Berkadia\",\"CIBC Bank\"],\"articleSection\":[\"Cleveland\",\"Development\",\"Finance\",\"Midwest\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/\",\"name\":\"OH Retail Development Receives $19M Construction Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/03\\\/Royalton-Collection-e1553702823567.jpg\",\"datePublished\":\"2019-03-28T12:11:21+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d364eed718d001d2f28b9e07694ebfc2\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/03\\\/Royalton-Collection-e1553702823567.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/03\\\/Royalton-Collection-e1553702823567.jpg\",\"width\":708,\"height\":530,\"caption\":\"Royalton Collection\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oh-retail-development-receives-19m-construction-financing\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OH Retail Development Receives $19M Construction Financing\"}]},{\"@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:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g\",\"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":"OH Retail Development Receives $19M Construction Financing - 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\/oh-retail-development-receives-19m-construction-financing\/","og_locale":"en_US","og_type":"article","og_title":"OH Retail Development Receives $19M Construction Financing","og_description":"The three-year, interest-only loan secured by Berkadia represents 73 percent loan-to-cost and was closed with 50 percent of the retail space pre-leased.","og_url":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-03-28T12:11:21+00:00","og_image":[{"width":708,"height":530,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.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":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/"},"author":{"name":"Timea Matyas","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2"},"headline":"OH Retail Development Receives $19M Construction Financing","datePublished":"2019-03-28T12:11:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/"},"wordCount":193,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg","keywords":["Berkadia","CIBC Bank"],"articleSection":["Cleveland","Development","Finance","Midwest","News","Retail"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/","url":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/","name":"OH Retail Development Receives $19M Construction Financing - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg","datePublished":"2019-03-28T12:11:21+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Royalton-Collection-e1553702823567.jpg","width":708,"height":530,"caption":"Royalton Collection"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/oh-retail-development-receives-19m-construction-financing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"OH Retail Development Receives $19M Construction Financing"}]},{"@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:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g","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\/2019\/03\/Royalton-Collection-e1553702823567.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004311964","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=1004311964"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004311964\/revisions"}],"predecessor-version":[{"id":1004312444,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004311964\/revisions\/1004312444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004311967"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004311964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004311964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004311964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}