DEAL OF THE DAY: CBRE Lends a Generous Hand to Four Senior Living Communities in Michigan

By Veronica Grecu, Associate Editor

American House Hazel Park

Detroit—Four apartment communities located in suburban Detroit received a helping hand from CBRE Group through its Federal Housing Administration (FHA) platform. The loans total $41.9 million and, according to the commercial real estate company, were originated by Jason Brown, vice president of CBRE Markets Indianapolis in partnership with John Taylor, senior vice president of CBRE Capital Markets Seattle.

The portfolio of properties is operated by American House Senior Living, a Bloomfield Hills, Mich.-based owner and operator of senior housing that operates approximately 51 communities, both market-rate and affordable.

Situated in Hazel Park, Pontiac and Clinton Township, the four multifamily communities have a combined mixed market-rate and Low-Income Housing Tax Credit (LIHTC) apartments.

American House Oakland

American House Hazel Park is located at 777 E. Woodward Heights in Hazel Park, roughly 11 miles from Detroit. The community includes a mix of one- and two-bedroom floorplans, as well as freestanding two-bedroom, two-bath cottages. American House Oakland is an assisted living community located at 1915 Baldwin Ave. with units ranging from studios to two-bedroom apartments. The two senior living communities located in Clinton Township—Lakeside I and Lakeside II—comprise of two buildings located at 15731 19 Mile Road, close to hospitals including Henry Ford Macomb Hospital, St. Joseph Mercy of Macomb and Mount Clemens Regional Medical Center. The properties offer one- and two-bedroom units, all with full kitchens and private baths. The list of amenities includes a dining room, beauty salon/barber shop, activity room, fitness center and general store.

Images via American House Senior Living