MetLife Investment Management Refis Cincinnati Apartments With $60M Loan
By Andrew Coen April 4, 2023 12:12 pm
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CIG Communities has nabbed a $60 million debt package to refinance a multifamily asset in Cincinnati, Commercial Observer has learned.
MetLife Investment Management provided the five-year, fixed-rate loan on CIG’s 248-unit Aspire Kenwood property. Scott French and Evan Bouche originated the loan for MetLife.
Bellwether Enterprise Real Estate Capital’s Sara Behrman arranged the transaction.
Located at 4751 Aspire Boulevard, across the street from the Kenwood Towne Centre shopping district, the Aspire Kenwood development opened late last year. It is part of a larger $150 million Gallery at Kenwood mixed-use project from Capital Investment Group that will include a hotel, retail and parking garage.
Property amenities at Aspire Kenwood include garage parking, a heated outdoor swimming pool, a pet spa, a pet park, co-working space, a podcast studio and a golf simulator.
Officials at CIG Communities did not immediately return a request for comment. MetLife declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com
