Flaherty & Collins Properties has landed a $53 million refinancing for its multifamily property in metropolitan Cincinnati, Commercial Observer can first report.
Natixis originated the five-year, floating-rate loan for Flaherty & Collins to retire an initial construction debt package it received in 2019 for River Haus Apartments, a 192-unit development located in Covington, Ky., less than two miles from downtown Cincinnati. Berkadia Commercial Mortgage arranged the financing with a team that included Daniel Geuther and Michael Slovitt.
Located at 515 Main Street, River Haus Apartments has community amenities that include a courtyard with fire pits, pool, outdoor grilling station, sky deck, coffee lounge and 24-hour fitness center. The property also features a Spoon on Main Kitchen & Market.
Representatives for Natixis and Flaherty & Collins did not immediately respond for comment.
Indianapolis-based Flaherty & Collins has completed more $2 billion in development deals since 1993 with an ongoing pipeline of half a billion dollars. It also manages 76 multifamily properties across seven states.
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