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.

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.

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.

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.

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.

Detroit Metro report Photo by Sean Pavone

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.

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.

Kings Gate

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.

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.

Detroit Keeps Its Composure

Multifamily investors continue to focus on suburban Class B and Class C assets, with acquisition yields hitting double digits.