{"id":1004732119,"date":"2024-10-07T03:57:57","date_gmt":"2024-10-07T11:57:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004732119"},"modified":"2024-10-07T05:14:35","modified_gmt":"2024-10-07T13:14:35","slug":"olshan-properties-lands-106m-for-mixed-use-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/olshan-properties-lands-106m-for-mixed-use-complex\/","title":{"rendered":"Olshan Properties Lands $106M for Mixed-Use Complex"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img decoding=\"async\" data-attachment-id=\"1004666551\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/inside-the-retail-stores-of-the-future\/2023-04-17-off-par-golf\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2023-04-17-Off-Par-golf-e1728296613376.jpg\" data-orig-size=\"1108,831\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&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=\"\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Revolutionizing the retail landscape, innovative experiential concepts like Off Par Golf in Miami redefine themselves as vibrant hubs of social engagement. Image courtesy of Off Par Golf &#038; Social&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2023-04-17-Off-Par-golf-e1728296613376.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2023-04-17-Off-Par-golf.jpg\" alt=\"Image of Off Par Golf's indoor golf simulator facility within The Greene Town Center in Dayton, Ohio.\" class=\"wp-image-1004666551\" style=\"width:411px;height:auto\"\/><figcaption class=\"wp-element-caption\">Last year, Off Par Golf &amp; Social opened an indoor golf simulator facility and event venue at The Greene Town Center. <em>Image courtesy of Off Par Golf &amp; Social<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Olshan Properties has refinanced The Greene Town Center, a 1.1 million-square-foot mixed-use property in Dayton, Ohio. Wells Fargo Bank and Argentic originated the $106.3 million loan, according to Greene County public records. The 10-year financing ends all foreclosure proceedings at the property. <\/p>\n\n\n\n<p>In April 2013, Olshan took out a $137.3 million CMBS loan from Citibank, CommercialEdge information shows. The note was split into two loans that were transferred to Wells Fargo, <em>Dayton Daily News<\/em> reported.<\/p>\n\n\n\n<p>Wells Fargo initiated a foreclosure lawsuit against Olshan earlier this year, as the owner had failed to pay the debt, according to <em>WDTN<\/em>. The outstanding balance was estimated at around $113 million.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/why-mixed-use-developments-are-all-about-the-right-synergies\/\">Why Mixed-Use Developments Are All About the Right Synergies<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Developed in two phases, The Greene came online in 2006; at the time, the estimated cost of the project was $200 million. The mixed-use campus comprises 760,000 square feet of retail space, alongside some 125,000 square feet of office space and 206 apartments. The property spans 72 acres and is home to more than 100 businesses. <\/p>\n\n\n\n<p>The Greene is at 51 Plum St., just west of Interstate 675. Downtown Dayton is within 10 miles, while Dayton International Airport is some 23 miles away.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-mixed-used-destinations-to-revitalize-the-u-s\">Mixed-used destinations to revitalize the U.S.<\/h2>\n\n\n\n<p>According to a <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-tentpole-report-future-proofing-the-urban-core\/\">CBRE report<\/a>, vibrant mixed-use destinations which often include office, multifamily retail and recreational space post vastly improved fundamentals in comparison to their counterparts.<\/p>\n\n\n\n<p>For example, after analyzing 68 such asset types in 19 U.S. markets, the paper shows that the office vacancy rate in those mixed-use districts was 18 percent on average, compared to 22 percent in the cities\u2019 nonprime business districts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal ends all foreclosure proceedings at this Ohio property.<\/p>\n","protected":false},"author":3355,"featured_media":1004666551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,13,21752,21742],"tags":[33457,35826,37315,33277],"class_list":["post-1004732119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midwest","category-mixed-use","category-latest","tag-citibank","tag-cmbs","tag-olshan-properties","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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