Investment Highlights
- Court-Ordered Receivership Sale and Major Repositioning Opportunity at Low Basis
- $93.4 Million Original Loan Balance (Fannie Mae – 2015) Based on $125.2 Million Appraised Value
- Occupancy was 86 Percent as Recently as 2024 (Currently 20 Percent)
- Located in Opportunity Zone (Federal Benefits Plus Ohio Credit Worth 10 Percent of Improvements) and Eligible for Historic Tax Credits on Qualified Improvements (Federal and Ohio)
- Located in Heart of Downtown Cleveland Adjacent to University District and Playhouse Square
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