Finance & Investment - Detroit

  • 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
  • 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
  • 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
  • Adaptive Reuse Sparks Opportunity in Detroit

    Developers and investors showed attendees at the 2018 ULI Spring Meeting how they are converting vacant or obsolete properties into new uses to spur further investment in the city.

    04 May 2018 15:19
  • 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.

    03 April 2018 14:55
  • 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
  • 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

    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
  • 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
  • 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