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Cohen Investment Group has secured a $51.5 million refinancing loan for Castleton Commerce Center, a 470,618-net-rentable-square-foot flex storage complex in Virginia Beach, Va. 

Eastern Union’s Mid-Atlantic Group Senior Managing Director David Merkin arranged the fixed-rate refinancing loan through Bank of America, on behalf of the borrower. Merkin was the one to secure bridge financing for CIG when the company acquired the facility in 2021. CIG purchased the property from Prime Group Holdings for $58.8 million, with the help of a $58.2 million loan originated through the Chicago office of Prime Finance.