Shoreline
- 167-unit (post unit addition) multifamily complex.
- Located directly on Lake Erie two miles northeast of downtown Cleveland, OH.
- Acquired in July 2017.
- Business plan to add 29 units by converting underutilized retail and parking garage space into rental units.
Investment Highlights
- Assisted in the origination and negotiation of a $20.3m senior loan.
- Supervised the unit expansion and helped address deferred maintenance items.
- Tryperion’s position was taken out via refinance in August 2021.