Berkadia provided the financing of Lofts on Michigan, a mid-rise-style multifamily property in Grand Rapids, Michigan.
Aaron Moll of Berkadia’s Michigan office secured a $9.35 million CMBS loan for the property refinance. The deal closed in May of this year.
Lofts on Michigan was built in 2016 and features 54 units with ground floor retail space. Located at 740 Michigan Street NE, the property offers convenient access to Medical Mile and downtown Grand Rapids.