Chase Johnson and Caleb Riebe with Cushman & Wakefield’s Austin-based Equity, Debt & Structured Finance Team Represent Borrower in Financing for 200 Public Square
CLEVELAND, April 12, 2024 – Cushman & Wakefield announced today that the firm arranged acquisition financing totaling $45.75 million for 200 Public Square in the Cleveland CBD.
Cushman & Wakefield Managing Director Chase Johnson and Senior Financial Analyst Caleb Riebe, who are based in Austin, represented the borrower in negotiating financing with a life company.
Located in the Cleveland CBD, 200 Public Square is a 1.2 million-square-foot office tower that was 63% occupied at closing, with 74% of the space occupied by Moody’s investment grade or AmLaw-rated tenants.
“It was a pleasure working with the sponsor to deliver a bespoke execution during an otherwise volatile market,” Johnson said. “This transaction exemplifies our ability to offer our clients a full suite of financing solutions and unparalleled capital markets expertise. Despite challenging market conditions in the office sector, we are thrilled to have procured a flexible balance sheet solution for our client. This execution aligns with the sponsor's business strategy, enabling them to act decisively and execute their business plan.”