Cathy Bronkema, managing director in the Grand Rapids, Michigan, office of Cohen Financial, secured a $10.6 million HUD 223(f) 35-year, fixed loan with a low interest rate to refinance Timberwood Crossing in Portage, Michigan.
The HUD loan will refinancing the original short-term bank loan Cohen Financial secured for the acquisition of the property.
Timberwood Crossing is a 254-unit, market-rate multifamily property. The borrower is Trillium Investments, a longtime Cohen Financial client.
