Multifamily news in Detroit
-
The Habitat Co. Bolsters Condominium Division
David Barnhart, the newly appointed vice president, will work alongside Shruti Kumar, appointed as regional manager, in overseeing the company’s portfolio in Chicago, Detroit and Tampa.
07 August 2019 09:02 -
Madison Marquette, GFH Financial Group Buy 6-Building Senior Housing Portfolio
The joint venture purchased properties located in California, Washington and Michigan totaling 509 units.
24 July 2019 13:03 -
Michigan Awards LIHTC for 536 Affordable Units
The state selected five projects in Detroit for the federal tax credits, which will support the construction of 235 new units and preserve the affordability of 318 existing units.
23 July 2019 19:24 -
Time Equities Adds Community to Grand Rapids Skyline
The 16-story tower is the result of a joint effort between contractor Pioneer Construction, property manager KMG Prestige as well as architecture firm Ghafari Associates.
05 July 2019 07:36 -
Trio of Midwest Communities Commands $100M
With this acquisition, The Habitat Co. enters the Minnesota market while expanding its multifamily portfolio in Michigan to more than 2,500 units.
04 June 2019 13:32 -
Detroit-Area Community Scores $23M Refi
Berkadia secured a 15-year Fannie Mae loan for the 180-unit garden-style property located less than 5 miles from downtown Rochester.
03 May 2019 10:15 -
Detroit Adds 54 Units for Low-Income Seniors
The development is part of Bedrock’s agreement with the City of Detroit to build and preserve 700 affordable housing units over the next several years.
17 April 2019 12:41 -
Greystone Refinances MI Multifamily Asset
The $11.3 million Fannie Mae loan features a 10-year term and 30-year amortization period. The property is Ranches of Rosebrook in Ypsilanti.
01 April 2019 17:29 -
Detroit’s Top 10 Lenders of 2018
Detroit is attracting investors with its low entry costs and high yields. Nearly $1.6 billion in multifamily loans were originated in 2018, a 22 percent year-over-year increase.
19 March 2019 14:01 -
Detroit Multifamily Report – Winter 2019
Demand is steady in Detroit, bolstered by household formation and job gains. Drawn by the metro’s low entry costs and attractive yields, investors are targeting assets with a value-add component.
18 March 2019 13:11 -
Detroit-Area Senior Community Undergoes $1M Renovation
Waltonwood Lakeside, situated in Sterling Heights, Mich., received upgrades on its interior, signage, common areas and amenity spaces.
07 March 2019 17:44 -
Friedman Real Estate Facilitates Detroit Transaction
Senior Vice President Steven Silverman, from investment advisory services, and Vice President James Tumey, from urban and brokerage services, represented both parties involved in the sale.
08 February 2019 19:36 -
Detroit-Area Asset Changes Hands
The 129-unit Kings Gate in Sterling Heights traded with the help of a $7 million loan. The property is close to several shopping centers and educational institutions.
30 January 2019 10:01 -
CAPREIT Lands $77M Refi for Midwest Portfolio
The assets include The Kensington at Beverly Hills in Michigan, Valle Vista Armes Apartments in Indiana, Greenway Chase Apartments in Missouri and Pointe West Apartments in Iowa.
27 December 2018 17:38 -
Detroit Keeps Its Composure
Multifamily investors continue to focus on suburban Class B and Class C assets, with acquisition yields hitting double digits.
10 December 2018 13:50