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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…

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