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$17.2 million refinancing arranged by Pinnacle Financial Group, Inc.

March 16th, 2012

$17.2 million refinancing arranged by Pinnacle Financial Group, Inc. for
Midwest retail portfolio owned and managed by Devonshire Fund Group

Cleveland, OH – Pinnacle Financial Group, Inc. (“Pinnacle”) is pleased to announce it recently arranged a $17.2 million refinancing for a four-property retail portfolio totaling 382,814 square feet in three markets in the Midwest.

Pinnacle worked exclusively on behalf of Devonshire Fund Group (“Devonshire”) to secure the 10-year, fixed rate, non-recourse loan through a commercial mortgage-backed securities lender.

The portfolio consists of four retail properties located in Toledo, OH, Ashland, OH and La Porte, IN. A sample of the portfolio’s tenants includes Kroger, Tractor Supply, Jo-Ann Fabrics, Dollar Tree and Goodwill.

Devonshire is a commercial real estate management and advisory firm headquartered in Whitehouse, Ohio. Devonshire is the sole manager of the Devonshire Fund, a private equity commercial real estate fund. Since its inception in January 2009, Devonshire has purchased 25 commercial properties representing over 1.4 million square feet and a value of approximately $93 million.

Pinnacle was formed in 1990 and is currently one of the largest independently owned mortgage banking companies in the Midwest. Pinnacle is a leading member of Strategic Alliance Mortgage (SAM), an organization of 23 mortgage banking companies with 48 offices throughout the United States. SAM ensures local expertise within a powerful national platform. Pinnacle consistently delivers their clients the best possible capital available in the market. For more information about Pinnacle, its partners and services can be found on their website at

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