Multifamily news in Detroit
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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 -
On the Market: 5 Interesting Listings for the Week of 8/17
This week's list of properties includes a high-end community in Oakland, Calif.; a vintage asset in the Detroit metro area; and an under-construction mid-rise in Jamaica, N.Y.
17 August 2018 14:03 -
Mixed-Income Development Receives City Council Approval in Detroit
Bedrock Detroit and Woodborn Partners will develop a 900-unit residential neighborhood on the former Frederick Douglass public housing site, one of the largest vacant properties in the city.
08 August 2018 13:41 -
Record Supply Takes Its Toll in Detroit
The high number of multifamily units completed in 2017 moderated rent growth, which nevertheless continues to outpace the national average.
06 August 2018 13:20 -
Detroit to Welcome $102M Brush Park Developments
Brush House, Brush 8 and Brush + Watson will bring 367 new units to to the city's historic neighborhood. About one third of the units will be affordable.
30 July 2018 13:27 -
Asset Campus to Manage MI Student Housing
Located a stone's throw from the University of Michigan campus in Ann Arbor, 411 Lofts came under new ownership in February.
08 June 2018 16:40 -
Arbor Refinances Michigan Student Housing Community
Glenwood Apartments in East Lansing, Mich., obtained a fixed-rate loan with a 35-year term. The owner, DTN Management, purchased the student housing community in 2006.
24 May 2018 11:58 -
Greystone Provides $36M for MI Asset
Gables of Troy, a 544-unit community in metro Detroit, will receive a HUD-insured Green Rewards refinancing loan. The 35-year mortgage carries a low, fixed interest rate.
15 May 2018 14:27