Market Rate Housing - Detroit
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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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
City of Detroit Invests $1.6M in Revitalization of Four Neighborhoods
The planning and design contracts refer to housing, reimagining open land, leveraging economic development and more.
09 December 2016 14:46