Maverick Commercial Mortgage, Inc. has funded a first mortgage loan for $9 million with a repeat borrower based in Bethesda, Maryland. The loan, provided by a regional bank, is a 5-year loan that will be swapped at closing to provide a competitive 5-year fixed rate loan.
The subject properties are three separate buildings spread across Michigan. A 74,026-square-foot building in Pontiac, a 26,571-square foot-building in Farmington Hills and a 51,138-square-foot building in Bay City.
This is Maverick’s third time closing a loan with this client. The borrower, 1788 Holdings, LLC, is a Maryland-based national real estate investment firm specializing in purchasing and repositioning older vintage light industrial properties and industrial outdoor storage properties.
