Berkadia provided the financing of Meadowood Townhomes, a 96-unit, townhome-style multifamily property in Grand Rapids, Michigan.
Managing Director Aaron Moll and Associate Director’s Dominick Ens and Kevin Nimmo of Berkadia Detroit and Chicago secured the loan through Fannie Mae. The borrower is the developer of the property, Grand Rapids-based Wheeler Development Group (WDG).
WDG owns and operates the asset under its affiliated property management company PURE Real Estate Management. The deal closed on March 6.
The 10-year loan featured a 5.32 % interest rate with 7-years of interest only followed by a 30-year amortization.
Located at 3300 E Beltline, the property affords convenient access to Downtown Grand Rapids and Gerald R. Ford International Airport. Multiple national and regional retailers, including Meijer, are nearby, with employment drivers from Corwell Health, Cornerstone University, and the Fredrick Meijer Gardens and Sculpture Park. Meadowood Townhomes was built in 2025 and features 96 units.
