City: Detroit

Commercial Real Estate Direct Staff Report The $63.9 million CMBS loan against the Southland Center shopping mall in the Detroit suburb of Taylor, Mich., has been extended through July. The loan is one of six remaining in the collateral pool ...

Commercial Real Estate Direct Staff Report Berkadia has provided $33.8 million of Freddie Mac mortgage financing to facilitate LG Capital's purchase of three apartment properties with 449 units in Midland, Mich. LG Capital, of Milford, Mich., purchased the three properties ...

Southland Center Mall in the Detroit suburb of Taylor, Mich., has been appraised at a value of $66.9 million, down from the $114.4 million appraised value given 10 years ago, when a $78.75 million CMBS loan was written against it. ...

Seniors Housing Business KIRCO has opened Monark Grove Clarkston, a 148-unit seniors housing property in Clarkston, Mich. The Troy, Mich., developer broke ground for the property, at 7373 Sashabaw Road, in April 2021. It is 40 miles north of Detroit ...

REBusiness Online Scannell Properties has broken ground on a 243,770-square-foot industrial property in Romulus Corporate Park in Romulus, Mich. The Indianapolis developer is building the property at 32252 Smith Road, about 20 miles west of Detroit. The property will have ...

Greystone has provided $22.6 million of financing under the U.S. Department of Housing and Urban Development's 223(f) program for Aria of Shelby, a 96-unit apartment property in the Detroit suburb of Shelby Township, Mich. The loan allowed its developer, Lombardo ...

REJournals VennPoint Real Estate has paid $29.1 million, or $388,000/unit, for the Harrison, a 75-unit apartment property in Royal Oak, Mich., a suburb of Detroit. The Schaumburg, Ill., investor was represented by Income Property Organization in the deal with an ...

REJournals Buligo Capital Partners has acquired the 238,334-square-foot industrial building at 6501 East Nevada Ave. in Detroit. The Israeli investment firm purchased the property from Manchester Detroit LLC in a deal brokered by Signature Associates. The sales price could not ...

Kaufman & Jacobs LLC has paid $45 million, or $232.14/unit, for Tel-Twelve Place, a 193,850-square-foot retail center in Southfield, Mich., which is 20 miles northwest of downtown Detroit. The Chicago investment firm purchased the property from RPT Realty, which was ...

Commercial Real Estate Direct Staff Report The $65.08 million CMBS loan against the Southland Center Mall in the Detroit suburb of Taylor, Mich., defaulted at its maturity last month. The loan is the second largest in the collateral pool for ...