Multifamily news in Detroit

Andover Real Estate, M Group Pick Up MI Asset
The buyers financed the acquisition with a $16 million Fannie Mae Green Rewards loan originated by Hunt Mortgage Group.
Market Rate
Full Throttle in Detroit
The city is well into its economic resurgence, attracting investors and young professionals with the help of startups, technology companies and automotive giants that are exploring the trending mobility industry.
Research Center
Exploring Precast Concrete’s Potential
For 28 Grand in Detroit, approximately 90 percent of the project was constructed using the product, which that enabled developer Bedrock to meet an aggressive construction time frame while incorporating the necessary façade aesthetic. Would this work for your project?
ViewPoint

  • Hunt Mortgage Provides Refi for 2 MI Affordable Properties

    The $9.5 million investment in Joseph's Run Apartments in Midland and Roxbury Court Apartments in Clio will be used to refinance both properties.

    05 January 2018 23:45

  • Detroit’s Slow Acceleration

    The metro is on the verge of an economic turnaround, largely due to its broad-based employment growth. This restoration is reflected in the local multifamily market’s improving fundamentals, as well.

    27 October 2017 13:46

  • Meridian Arranges Loan for MI Luxury Property

    The 10-year fixed-rate CMBS financing was secured on behalf of The Harrison, a community located in Royal Oak, Mich.

    25 October 2017 00:30

  • Historic Lafayette Park’s First Luxury Community in 40 Years

    DuCharme Place is a $45 million multifamily project inspired by architect Mies' design of Lafayette Park, the historic district near which the community is situated. The 185-unit development was financed through a HUD loan, one of the only sources of financing for the few ground-up housing projects planned in Detroit in the early 2000s.

    04 October 2017 15:21

  • How Mission Lenders Fueled Motor City’s Comeback

    After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.

    19 September 2017 20:15

  • The Senior Housing Boom’s Ripple Effect

    Assisted living occupancy fell to its lowest in eight years, despite record absorption, according to NIC’s 2017 second quarter report. San Jose had the highest occupancy, while Detroit recorded the biggest rent growth.

    15 August 2017 19:31

  • Greystone Enters Michigan Market with New JV

    The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.

    21 July 2017 18:54

  • Affordable Housing Portfolio Secures $142M in Financing

    Harmony Housing tapped KeyBank Real Estate Capital to provide loans to six of its properties, located in Texas, Michigan, Wisconsin and Florida. Each property reserves half of the units for residents making 60 percent of the area median income.

    18 July 2017 14:23

  • Greystone Provides $79M FHA Loan for Michigan Portfolio

    The portfolio includes both market-rate and affordable housing communities that will be renovated using the funds. Most of the properties are owned by the Altman Cos.

    05 July 2017 18:27

  • Detroit: Far From Singing the Blues

    Despite numerous headwinds, the city is gamely bouncing back, thanks to concerted efforts by public and private sources to bring commerce and households back to the area.

    29 June 2017 13:07

  • Midtown Detroit Gets New Mixed-Income Community

    Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.

    26 June 2017 16:59

  • Friedman Sells 58-Unit Detroit Community

    9501 Iris Manor LLC purchased Iris Manor from Thornton Enterprise LLC. The three-story property features one- and two-bedroom units and is close to Wayne State University and the University of Michigan-Dearborn.

    07 April 2017 18:05

  • 248-Unit Community Breaks Ground in Grand Rapids

    Springs at Knapp’s Crossing is located along a retail corridor.

    20 March 2017 18:16

  • Davenport University Investing $6M in New Dorm

    The two new buildings at Panther Ridge will be completed by fall, bringing the university’s total residential capacity to 932 beds.

    16 March 2017 17:08

  • Downtown Detroit’s First New Residential Project in 25 Years Opens

    FOURMIDABLE has been named the property manager for the $24 million community.

    21 February 2017 16:27