Shelbourne Global Solutions, the Brooklyn, New York, owner of a huge office portfolio in the suburbs east of Cleveland, has secured additional terms from its lender for a $40 million loan against four of its properties here.
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A due date looms for a $40 million loan on the trio of three-story Landerbrook Corporate Circle buildings in Mayfield Heights and the seven-story Metropolitan Plaza structure in Higland Hills owned by the Shelbourne real estate company based in Brooklyn, New York. The lender has assigned the loan to special servicing, where distressed loans go for initial workout efforts.