ACRES Capital originated a $38M loan to develop 1118 Sycamore Street, a mixed-use Cincinnati project in the city’s largest historic district, Over-The-Rhine. The loan carries a term of 30 months and is sponsored by Charles Street Investment Partners, a boutique real estate investment and development company.
This project will reinvent the 0.93-acre lot into the largest residential complex in the area. The new seven-story development will incorporate:
Situated in Cincinnati’s Over-The-Rhine submarket, the new development is in a prime location for residents and renters. Recently revitalized, this neighborhood provides an exceptional backdrop for the project. With restaurants, shops, nightlife destinations, arts and cultural events, parks, and historical sites, it offers a diverse lifestyle for the community. Specifically, the district is home to the Arts Academy of Cincinnati, the School of Creative and Performing Arts, and the Cincinnati Symphony Orchestra. Additionally, 1118 Sycamore Street is directly adjacent to downtown Cincinnati, which also recently underwent a massive urban revitalization.
Global architecture, planning and design firm NBBJ led the design of 1118 Sycamore and will oversee production designs being completed by Architecture Alliance.
Exantas Capital Corp.is externally managed by ACRES Capital, LLC. The Company’s primary investment strategies include transitional commercial real estate loans and longer duration commercial real estate credit investments, such as commercial mortgage-backed securities. To see more on EXANTAS, click below.