Multifamily news in Detroit
-
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 -
Detroit-Area Communities Receive $47M Financing
Both Fannie Mae Green Rewards loans include a 10-year term and a low fixed rate. Greystone originated the refinancing on behalf of Singh Development Co.
12 November 2018 14:38 -
Detroit Community Reopens Following $12M Renovation
The Hamilton Midtown, a 105-year-old historic building previously known as Milner Arms, underwent an extended renovation that lasted more than a year.
22 October 2018 05:23 -
Detroit-Area Portfolio Sells for $20M
Coseo Properties offloaded the two communities, totaling 326 units, five years after acquiring them from the Slatkin Corp. for approximately $11.6 million.
19 October 2018 08:04 -
SmartStop Affiliate Closes Equity Raising for Student Housing Portfolio
The Power 5 Conference Student Housing I DST comprises YOUnion @ Columbia, a 760-bed community, and YOUnion @ Ann Harbor, a 345-bed property.
17 October 2018 06:45 -
Detroit-Area Community Lands $87M Refi
The new mortgage, held by PGIM Real Estate Finance, pays down a previous $70 million CMBS loan on the 667-unit property.
15 October 2018 14:21 -
Andover Real Estate, M Group Acquire Detroit Community
Carlton Apartments has 144 units and is located in the Lafayette Park area of the city. Greystone provided the Fannie Mae Green Rewards financing for the acquisition.
04 October 2018 17:06 -
Detroit’s Unique Development Scene
Jonathan Holtzman of City Club Apartments discusses what sets the metro apart from other Midwestern markets.
27 September 2018 14:22