Byline Bank’s Commercial Real Estate Group has provided a $17.5 million term loan to The Schirm Firm to support the acquisition of Trotters Park, a multifamily community located at 720 Michigan Avenue in Columbus, Ohio.
The financing enables The Schirm Firm, a family-owned real estate company, to purchase the centrally located property, which sits in an infill pocket between downtown Columbus and The Ohio State University. The location places the asset between the city’s core employment center and one of the region’s primary educational and institutional anchors.
This transaction continues an established relationship between Byline Bank and The Schirm Firm. According to the parties, the Trotters Park acquisition marks the fourth deal completed between the bank and the family-owned firm, underscoring an ongoing lending relationship in the multifamily sector.
Byline Bank staffed the financing with a dedicated team from its Commercial Real Estate Group. Team members on the assignment included Sarah Hunter, Mason Tittle, Matt Smith and Eric Estela. Hunter serves as Senior Vice President of Commercial Real Estate at Byline Bank.
Discussing the loan, Hunter emphasized the importance of longstanding client relationships to the bank’s approach to commercial real estate lending. She noted that Byline Bank is pleased to continue supporting The Schirm Firm with the Trotters Park acquisition and highlighted that the lender’s familiarity with the sponsor’s team and investment approach helped streamline the financing process.
Hunter added that this familiarity allowed the lender and borrower to work efficiently together while structuring a financing package aligned with The Schirm Firm’s needs for the Trotters Park property. While specific loan terms beyond the $17.5 million amount were not disclosed, the transaction reflects continued bank engagement in acquisition financing for multifamily assets in established, infill locations.
The Trotters Park deal illustrates how relationship-based lending remains an important component of multifamily capital stacks, particularly where sponsors and lenders have a track record of completing prior transactions together.
