Tag: Cleveland

Berkeley Capital Announces Strategic Partnership With Anchor Cleveland

Press release content from Newswire. The AP news staff was not involved in its creation.

CLEVELAND – October 8, 2020 – ( Newswire.com )

​​​​​​Berkeley Capital, a Cleveland-based private equity firm, today announced a new strategic partnership with Anchor Cleveland, a premier real estate broker specializing in net lease retail and net lease medical assets.

Seeking to provide international investors with an array of wealth preservation opportunities in real estate, the firms will collaborate in identifying and acquiring high-potential net lease assets. Anchor Cleveland brings its extensive relationships with national tenants and landlords throughout the Midwest to the partnership, while Berkeley Capital brings a broad network of capital sources.

“The addition of strategic partners is a key component of our continued success,” said Berkeley Capital Managing Director Michael Wager. “We will continue building our portfolio of U.S. and global alliances, as Adnan Zai and our Berkeley

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Residential development highlights the value of living in Downtown Cleveland

On the other end of Euclid Avenue, The Lumen now towers over Playhouse Square at 34 stories tall. Downtown Cleveland’s newest residential tower was built on a surface parking lot, becoming the largest apartment building built in Downtown Cleveland in 40 years. The Lumen welcomed its first tenants in July and continues to draw top talent from other cities looking to call Downtown Cleveland home. Residents of The Lumen’s 318-unit complex live in close proximity to Heinen’s Grocery store and DGX, the urban-concept Dollar General store located in the NineTwelve District.

The additions of both The Lumen and The May to Downtown Cleveland’s residential portfolio represent only a slice of the ongoing residential development attracting top talent to our center city neighborhood. These developments join recently completed projects like The Beacon, The Athlon, Terminal Tower Residences and The Statler in filling out Downtown Cleveland’s premier retail corridor, Historic Euclid Avenue.

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Cleveland Heights goes out for new development proposals on Cedar-Lee-Meadowbrook site

CLEVELAND HEIGHTS, Ohio — Coming off of a long, drawn-out and unsuccessful development bid for the Cedar-Lee-Meadowbrook site, city officials wasted little time in seeking new proposals.

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Upon its return from August recess, City Council planned on Tuesday (Sept. 8) to authorize Acting City Manager Susanna Niermann O’Neil to issue another round of Requests for Qualifications and Preliminary Development Proposals (RFP/RFQ’s) on the 4.8-acre site.

Back on July 20, the preliminary agreement expired between the city and the proposed developer, Cedar Lee Connection after a third 90-day extension had been granted in the midst of the coronavirus public health emergency.

“Unfortunately, the City and Cedar Lee Connection were unable to reach a consensus on certain elements to be included in the proposed development agreement for the project by the deadline,” a memo in last week’s council packet stated, effectively ending two years of negotiations.

This led to city

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