ACRES Provides $72.5 Million for Multifamily Property in Columbus, OH
MAY 15, 2025Loan to fund a 311-Unit, multifamily property.
Columbus, OH (May 15, 2025) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading nationwide middle-market lender specializing in commercial real estate, has funded a $72.5 million loan for the refinancing of 4th & 5th Apartments, a Class-A, 311-unit, multifamily property located in Columbus, OH (the “Property”) on behalf of its Cayman Island Fund. The financing was provided to Mark & Eric Wagenbrenner of Thrive Companies (the “Sponsor”) and was facilitated by Conor Lee of Bellweather Enterprises (the “Broker”).
“We are proud to support the Sponsor and the continued revitalization of the Weinland Park neighborhood with this Class A development,” said ACRES Chief Executive Officer and President Mark Fogel. “The 4th & 5th Apartments exemplify the kind of thoughtfully designed, high-quality projects we seek to finance—those that contribute lasting value to their communities.”
The Property is a mixed-use Class-A multifamily property situated on a 3.45-acre site located in Columbus, Ohio, within Franklin County. The Property consists of 311 units, a 557-space parking garage, and two retail suites totaling 5,492 SF. Once completed, the Property will include a clubhouse, a courtyard, elevators, exterior lighting, a fitness center, a rooftop area and a swimming pool. The Property is located on the southern edge of Columbus’ Weinland Park neighborhood, which is directly east of the Short North Arts District – Columbus’ premier entertainment district.
