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MichiganFinance

SunTrust CRE closes $8 million bridge loan for Michigan apartments

August 14, 2018
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Evan Hom, managing director with SunTrust CRE, originated an $8.55 million bridge loan for the acquisition and renovation of Birch Hill Apartments in Westland, Michigan, a suburb of Detroit.

Built in 1974, Birch Hill is a 172-unit multifamily property with one-, two- and three-bedroom apartments. It also features a swimming pool and clubhouse.

SunTrust CRE originated the bridge loan for a Michigan-based CRE owner/operator. The property was fully occupied at the time of closing on July 30.

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apartmentDetroitEvan HomfinanceMichiganSunTrust CREWestland
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