Ares Commercial Real Estate Closes Loan on Cincinnati Property
Ares Commercial Real Estate Corporation has closed a $36 million first mortgage loan commitment collateralized by a Class A office building located in Cincinnati’s central business district. The proceeds of the loan were used to refinance the existing mortgage on the property. The initial funding amount is approximately $27 million with $9 million in loan proceeds available to be drawn over time to fund tenant improvements and leasing commissions.
16 October 2012•2 mins read
