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PFG Refinances CBD Office Building

June 1st, 2012

Independence, OH -- Pinnacle Financial Group, Inc. is pleased to announce it arranged the financing for the US Bank Building located in the heart of the Playhouse Square District in Cleveland, Ohio. The US Bank Building is a 245,000 SF Class A office building constructed in 1990. The property’s major tenants include The US Department of Housing and Urban Development, Cohen and Company and US Bank.

The $22,000,000 loan was non-recourse with a 10 year term with a 30 year amortization and was executed through RBS Securities, Inc.

$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…

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