State Bank closed three new financing facilities secured by projects in Michigan. All three were arranged by Matthew Wilk of The State Bank in Brighton, Michigan, with the assistance of Matt Shane of q10 – Lutz Financial Services.
The first was a $5.7 million purchase of an office building in Ann Arbor, Michigan. The out-of-state buyer had to close on a tight deadline to meet the seller’s requirements.
The second project was a $4.5 million purchase of a seven-building office complex in Southfield, Michigan. The customer had worked with the lender as a seller/investor, and came back to The State Bank for this deal.
The third project was a $5.3 million acquisition of an office/high-tech three-building complex and featured an out-of-state buyer, a seller-mandated quick closing and earn-out financing for future leasing.