Berkadia Closes $92M Loan for New American Greetings HQ
By
Tony Seruga
The company secured the loan through Bank of America Merrill Lynch on behalf of H&L Property Co.
American Greetings Headquarters, Westlake, Ohio
Cleveland—
Berkadia has recently announced the $92 million financing of
American Greetings’ new headquarters in Westlake, Ohio. The company’s senior managing director of the Cleveland office, Mark Vogel, secured the loan through Bank of America Merrill Lynch on behalf of the Ohio-based borrower, H&L Property Co. The 10-year loan has a 4.8 percent fixed interest rate, a 65 percent loan-to-value ratio and a 25-year amortization schedule. The deal was completed October 5
th….
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