The State Bank recently closed the financing for the acquisition of a multifamily property in downtown Birmingham, Michigan.
The site is located just south of Maple, within an 0.4-mile walking distance from Birmingham’s active and thriving downtown. The borrower purchased the property to add to his other multifamily holdings in the area. This financing facility provided funds for the acquisition of the property so that the owner could expand his portfolio in a very tight submarket.
Matthew Wilk of The State Bank in Brighton, Michigan, arranged the financing with the assistance of Mike Lemon of q10 Lutz Financial Services.