State: Michigan - MI

A venture of Ramsfield Hospitality Finance and funds managed by CarVal Investors has provided $135.2 million of mortgage financing against a portfolio of 11 Hilton-branded hotels owned by Cooper Hotels, refinancing a $101.94 million CMBS loan that had matured. The ...

Commercial Observer Dwight Capital has provided $23 million of financing for the construction of the 117-unit City View Apartments in downtown Lansing, Mich. WestPac of Santa Barbara, Calif., is building the five-story property at 503 South Capitol Ave., about four ...

Multi-Housing News A venture of Beztak Properties and Grand/Sakwa Properties has welcomed the first tenants to the 192-unit Town Court apartment property in Bloomfield, Mich. The Farmington Hills, Mich., companies developed the three-story property at 7110 Orchard Lake Road, about ...

Dwight Capital has provided $34.5 million of financing under the U.S. Department of Housing and Urban Development's 223(f) program against the 254-unit Central Park Estates apartment property in the Detroit suburb of Novi, Mich. The loan allowed the property's owner, ...

Greystone has provided $27.8 million of financing under the U.S. Department of Housing and Urban Development's section 223(a)(7) program for the 383-unit Solaire Apartments in Southfield, Mich. The 35-year loan allowed Loop Investments of Lincolnwood, Ill., to retire a previous ...

REBusiness ICAP Development has bought Technology Park, a 222,965-square-foot industrial-flex building in Farmington Hills, Mich. The Milwaukee developer purchased the property from Promanas, which was represented in the deal by Colliers International's Detroit office. The sales price was not disclosed. ...

Time Equities Inc. has paid $68.25 million, or $238,636/unit, for the 286-unit Brix apartments in Grand Rapids, Mich. The New York real estate investor purchased the complex from its developer, a venture led by Kayne Anderson, a Boca Raton, Fla., ...

Commercial Real Estate Direct Staff Report The $77 million CMBS loan against the 453-room Westin Book Cadillac hotel in downtown Detroit could be on the road to foreclosure. The loan is split into a $45 million piece that's securitized through ...