Crestline Investors (“Crestline”) announced today that funds managed by its Real Estate and Reinsurance teams closed a senior secured credit facility to support Onyx Partners’ acquisition and re-development of an industrial facility in Southeast Cleveland, Ohio. Proceeds from the loan will be used to retrofit an existing industrial facility as a modern distribution center for a national furniture chain, which has already pre-leased the site. The facility is designed to enhance the tenant’s operational capacity and support their growing retail presence across the Midwest.
“Southeast Cleveland’s strong market fundamentals and growing demand for industrial space make this a prime location for a strategic distribution hub,” said Nathan Snodgrass, Vice President at Crestline. “We’re excited to collaborate with a proven developer like Onyx Partners to deliver this project for an institutional-grade tenant, furthering our commitment to supporting strategic growth in key markets.”
Rogers Boylan at Onyx Partners added, “This facility will be a pivotal part of the tenant’s logistics network, helping strengthen their operations in the Midwest. We’re excited to partner with Crestline whose expertise and support has been instrumental in bringing this project to life.”
Longline Holdings partnered with Crestline in originating the transaction and will service the loan post-close.
About Crestline Investors
Crestline Investors, Inc is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of March 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
About Onyx Partners
Founded in Needham, Massachusetts Onyx Partners is a fully integrated commercial real estate development, acquisition, and management firm that targets mismanaged and underutilized assets. The firm has principled 100+ transactions over 30 years with a market value above $1.2 billion across 47 US states. For more information, visit www.onyxpartnersltd.com.
About Longline Holdings
Longline Holdings, LLC is an investment holding company based in Atlanta, GA. Founded in 2019, Longline invests in real estate and hard assets, related credit strategies and select operating companies. Longline invests nationally with a focus on the Southeast U.S. Since inception, Longline has invested $400 million of equity across its platform on behalf of institutional and individual investors and for its own account. For more information, visit www.longlineholdings.com.
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