Multifamily news in Detroit
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Walker & Dunlop Arranges $48M Loan for Grand Rapids-Area Community
Vice President Benjy Krosin partnered with Inner Circle Holdings’ President Kari Zapolski to originate the transaction.
13 November 2019 10:42 -
Student Housing Community Wraps Up in Detroit
Developer Corvias and Wayne State University have finished the second phase of the 841-bed project.
11 October 2019 14:12 -
LR Management Buys Detroit-Area Community
The acquisition of the 62-unit asset in Farmington Hills, Mich., was subject to a $3.5 million Fannie Mae loan from Greystone.
10 October 2019 12:21 -
Detroit Multifamily Report – Summer 2019
The leisure and hospitality sector leads gains, mainly due to an increasing number of visitors as well as new hotel projects coming online.
20 September 2019 10:28 -
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