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• Mezzanine loans to sponsors of tenant-in-common, 1031 exchange syndications
• Loans from $1 million to $30 million
• Competitive rates
• Fast response time
• Deal structure flexibility
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Since 2004, One Cleveland Finance, LLC, (OCF), in conjunction with Meridian Finance Company, has been making short term, mezzanine acquisition loans
to real estate syndicators in the “tax-deferred exchange / tenant-in-common”, (TIC), market. These loans are used to acquire institutional quality
commercial properties which are then resold to individual investors as undivided tenancy in common interests.
This structure makes institutional quality, tax-advantaged real estate available to sophisticated individual investors. The mezzanine loans are subordinated
to a senior mortgage on the property and subject to inter-creditor agreements with the senior lender.
Proceeds from the sale of the TIC interests are used to repay the loans. Since its inception, OCF has originated mezzanine loans totaling over $300 million.
These loans have ranged in size from $1 million to over $20 million per project. The underlying properties have been in a variety of asset classes including
class A office towers, retail shopping centers, car dealerships, golf courses and multi-family projects.
OCF has focused on sponsors with projects throughout the United States in both central business districts and suburban markets.
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