The ‘Crash & Burn’ of Millenia Housing Management: $97.5 Million in Debt

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Millennia Housing Management (the owner of Tiffin West Apartments, in Tiffin, OH) has defaulted on their 3rd Cleveland property. So far Millenia has defaulted on $97.5 Million.

Based on recent public reports and court filings, there are three known foreclosure lawsuits against Millennia Companies (the parent entity of Millennia Housing Management) involving properties in downtown Cleveland. These stem from defaults on loans used for property acquisitions and renovations. Frank Sinito, the former CEO and current owner, is personally named as a guarantor in one of the cases, along with his wife Malisse Sinito. No additional foreclosure lawsuits against the company or Sinito appear in available records or news coverage as of November 2025. Below is a detailed summary of each case.

1. The Statler Apartment Building (1127 Euclid Ave., Cleveland)

  • Plaintiff: Union Labor Life Insurance Company
  • Defendants: Millennia Companies (via subsidiary Statler Cleveland Holding, LLC); Frank Sinito is not personally named in this suit
  • Amount Owed: Original $52 million mortgage from 2022; total owed is $60.7 million including interest and fees
  • Filing Details: Lawsuit filed in federal court in Cleveland on September 26, 2025; seeks foreclosure, sale of the property, and appointment of a receiver to manage it during proceedings
  • Background: The historic 1912 building was purchased by Millennia in 2018 for $40 million and converted into 295 luxury apartments. The default began after missed payments, amid broader financial issues for the company including HUD sanctions.

2. The Centennial Building (925 Euclid Ave., Cleveland)

  • Plaintiff: Deutsche Bank
  • Defendants: Millennia Companies; Frank Sinito is not personally named in this suit
  • Amount Owed: Original $35.4 million loan; $33.4 million principal remains unpaid, plus interest and fees
  • Filing Details: Lawsuit originally filed in Cuyahoga County Common Pleas Court in October 2025, then transferred to federal court in Cleveland (assigned to U.S. District Judge Charles Fleming); seeks transfer of property control to a receiver and foreclosure
  • Background: This is the second recent foreclosure action against Millennia. The case jeopardizes over $70 million in public incentives, including state tax credits and HUD-backed loans tied to the building’s renovation into apartments and commercial space.

3. 75 Public Square (Cleveland)

  • Plaintiff: Ohio Water Development Authority
  • Defendants: Millennia Companies; Frank Sinito and his wife Malisse Sinito are personally named as guarantors
  • Amount Owed: Original $3 million loan from 2020; total owed exceeds $3.4 million including principal, interest, late fees, and legal costs
  • Filing Details: Lawsuit filed in Cuyahoga County Common Pleas Court around early November 2025; seeks foreclosure of the mortgage, appointment of a receiver to manage the property, and a potential deficiency judgment against the defendants
  • Background: This marks the third foreclosure suit in recent months. The loan funded the conversion of the building from office space to luxury apartments. Defaults began with missed payments in July 2023. The personal guarantees expose Sinito and his wife to potential liability beyond the company’s assets.

These cases are part of broader scrutiny of Millennia, including HUD’s five-year ban on federal contracts due to alleged fund mismanagement and multiple suits over poor conditions at its affordable housing properties across the U.S. However, those additional legal actions are not foreclosures. If you need updates on ongoing proceedings or access to specific court documents, checking Cuyahoga County or federal court dockets directly would be recommended.

Millennia Companies Hit with Third Foreclosure Suit Over Downtown Cleveland Property

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CLEVELAND, Ohio — Troubled real estate firm Millennia Companies is now contending with a third lawsuit claiming unpaid obligations related to its downtown Cleveland holdings.

Last week, the Ohio Water Development Authority initiated foreclosure proceedings against Millennia concerning outstanding debt linked to 75 Public Square, a high-end apartment complex adjacent to the Old Stone Church.

As one of the biggest downtown property owners, Millennia has encountered similar accusations in recent months involving defaults on loans for The Centennial Building and The Statler apartments.

The latest filing in Cuyahoga County Common Pleas Court asserts that Millennia defaulted on a $3 million loan granted in 2020 to facilitate the transformation of 75 Public Square from offices to residential units.

According to the suit, the company stopped making required payments as of July 2023, resulting in an outstanding balance exceeding $3.4 million, encompassing principal, interest, penalties, and legal expenses.

The action requests foreclosure on the mortgage and associated securities, the installation of a receiver to oversee the property, and possibly a deficiency judgment against ex-CEO Frank Sinito and his spouse, Malisse Sinito, who served as personal guarantors.

Frank Sinito resigned from his CEO role in June while retaining ownership of the firm.

In response, Millennia’s Chief Investment Officer Angelica Sinito described the lawsuit as “unexpected,” noting active negotiations with the authority and other creditors.

“Considering the property’s promising prospects in the burgeoning Sherwin-Williams global headquarters area, this move is both unforeseen and regrettable,” she stated.

The company’s release expresses optimism about 75 Public Square’s outlook, despite “widespread distress” in the downtown market.

Representatives for the Ohio Water Development Authority were unavailable for immediate comment.

In October, Deutsche Bank launched a federal foreclosure case against Millennia’s Centennial Building over a $35.4 million defaulted loan. This dispute endangers over $70 million in public subsidies for the development, including local county contributions, state tax incentives, and a HUD-guaranteed loan.

Sinito indicated that discussions with lenders and partners to safeguard the building and push forward its revitalization are continuing.

Millennia is also navigating foreclosure at The Statler, another key downtown asset, due to an alleged $52 million default. Sinito attributed dips in occupancy to garage renovations and affirmed ongoing talks with lender Union Labor Life Insurance Company.

These legal battles unfold against a protracted backdrop involving Frank Sinito. Federal authorities searched his residence last year, following HUD’s claims that Millennia mishandled or lost $4.7 million.

In May, a HUD administrative judge determined that Millennia and related entities executed over 100 improper fund transfers amounting to roughly $3 million.

Adding to Millennia’s woes, the company has drawn sharp criticism for property management issues at HUD-subsidized affordable housing complexes. For instance, at Tiffin West Apartments in Tiffin, Ohio—located at 1746 W Market St. and managed by Millennia Housing Management, LTD—residents have protested deplorable conditions including black mold, leaking roofs, broken air conditioning units, overflowing dumpsters, and a complete absence of on-site management or maintenance. The complex reportedly owes more than $7,000 in unpaid garbage fees, and the management office has remained locked with windows obscured, even after a new manager was briefly spotted in June 2025. Housing advocates have accused HUD of inadequate oversight, often looping complaints back to Millennia without proper scrutiny, while residents demand urgent interventions to rectify the hazardous living environment. These reports echo broader allegations against Millennia, including substandard conditions at other sites like Atlanta’s Forest Cove Apartments, which was condemned for similar violations, and tie into ongoing investigations of the company’s CEO.

Residents of Tiffin West Apartments Demand Action Amidst Neglect by Millennia Housing Management

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Tiffin, OH – June 29, 2025 – Residents of Tiffin West Apartments, located at 1746 W Market St., Tiffin, Ohio, are voicing their frustration with Millennia Housing Management, LTD, over deplorable living conditions, including overflowing trash, leaking roofs, black mold, and unpaid invoices. The once well-maintained complex has deteriorated significantly in recent years, leaving tenants grappling with health hazards and unresponsive management.

 

A History of Decline

A resident since 2011, recalls a time when maintenance requests were addressed within days and rent was affordable at $425 per month. Today, her rent has surged to $724, while maintenance has all but ceased. “Five years ago, maintenance orders just stopped getting done,” she said. The death of the dedicated maintenance worker, Donnie, two years ago marked a turning point, with conditions worsening rapidly.

One tenant in Building 1726 D received a plastic tarp from management to cover a mold-filled attic.

Picture of a roof in need of replacement.

Last year a cat had kittens inside the overhang.

Health and Safety Hazards

Multiple residents shared harrowing accounts of unsafe living conditions. A tenant for nearly two years, described moving into an unclean apartment with trash, roaches, a broken stove cord, and a garbage disposal that remains inoperable. The carpet, reeking of cat urine, was never replaced, and management promised rent deductions for repairs that never materialized. Another faced late fees and eviction threats after complaining about overflowing trash and a leaking roof, which management covered with a cheap tarp two weeks ago.

Another resident, an ADA tenant who has lived at Tiffin West for 20 years, detailed a litany of issues: a front door with gaps allowing daylight to stream through, leading to high electric bills; carpet tacks protruding through the floor, posing a hazard; and a garbage disposal broken for three years, emitting a persistent gas odor. His gas hot water heater provides only 5-10 minutes of hot water and makes alarming popping sounds, likely due to mineral buildup. Broken door knobs, unprovided furnace filters, and a damaged soffit allowing squirrels and birds to enter further compound his struggles.

A younger resident reported a dangerous carbon dioxide (CO2) leak in late 2024, deemed unsafe by the fire chief. A professional later identified an oversized water heater and a slow CO2 leak from a dryer, yet repairs were delayed for 28 days. She has been unable to secure rent assistance due to management’s failure to process paperwork, despite living in the complex for two years with unfulfilled promises of repairs.

Systemic Neglect and Unpaid Debts

The complex’s issues extend beyond individual units. Nine units lack functioning air conditioners, and Building 1740 suffers from persistent roof leaks. Overflowing dumpsters have become a health hazard, with the complex owing over $7,000 in unpaid garbage collection fees, according to The Fostoria Free Press. A couple was relocated to a new unit after ceiling water damage went unaddressed, only for the ceiling to collapse, exposing black mold everywhere—posing a severe risk to their pregnant daughter who was present at the time.

Millennia Housing Management has been unresponsive, with residents and reporters unable to reach the company for comment. The office remains locked, with windows covered in paper, despite a new manager reportedly being spotted on-site on June 13, 2025.

Broader Context of Mismanagement

Millennia Housing Management, an Ohio-based company managing thousands of HUD-subsidized rental units, has faced widespread criticism for substandard living conditions. The company and its CEO, Frank Sinito, are under investigation following a federal raid on Sinito’s home in October 2024, with no charges filed as of June 2025. HUD has barred Millennia and Sinito from new federal contracts until March 2029 due to financial mismanagement, and the company is reportedly selling off its affordable housing portfolio.

Tenants across Millennia’s properties, including Forest Cove Apartments in Atlanta, have reported similar issues, such as mold, rodents, and structural failures, leading to condemnations and relocations. Housing advocates argue that HUD has failed to hold Millennia accountable, often redirecting tenant complaints back to the company without independent investigation.

A Call for Accountability

Residents of Tiffin West Apartments are demanding immediate action to address the hazardous conditions and restore habitable living environments. From black mold and leaking roofs to unpaid invoices and unresponsive management, the tenants’ pleas echo a broader call for accountability from both Millennia Housing Management and HUD. As the company shifts focus to market-rate properties, tenants fear their concerns will continue to be ignored, leaving them in a state of neglect and uncertainty.