Direct-lender Kennedy Funding recently completed a $1.5 million note purchase on behalf of a limited liability company formed prior to closing. The collateral is a first lien on the 13,315-square-foot, one-story Mar-Bre Building, a fully leased office building in Warren, Mich.
The loan will be serviced by Kennedy Funding on behalf of the limited liability company.
The borrower, 3665 Eleven Mile Associates, LLC occupies about 25 percent of the building, which was built in 1988 and sits on 1.3 acres at 3601-3655 East Eleven Mile Road in Warren, metropolitan Detroit’s largest suburb. The other two tenants in the building are Henry Ford Health Systems and Holistic Healing and Wellness Center.
