Detroit, MI

$3,850,000 First Mortgage

In May 2017, a $3.85 million first-mortgage loan was provided to finance the acquisition and rehabilitation of a three-property multifamily portfolio located at 665 West Willis Street, 675 West Willis Street, and 663 Prentis Street in Detroit, Michigan. The loan was structured as a multi-tranched bridge facility, allowing the borrower to complete the acquisition and immediately commence construction and rehabilitation.