Friedman Finance arranged a $3.9 million loan for a 48-unit apartment community in Ann Arbor, Michigan.
The non-recourse loan provided the borrower, a local investor group, with initial funding as well as future funding to renovate units and increase rents.
The loan featured a three-year interest-only term with an extension option and a low floating rate. It was originated by Ryan Denomme, director of Friedman Finance, and was closed with a regional bank.
