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Berkadia Arranges Loans on Michigan Apartment Trio
Berkadia arranged $75.13 million in combined financing for three garden-style multifamily properties in Michigan: Dearborn View in Inkster, Bedford Square in Rochester Hills and Delta Square Apartments in Lansing. Director Aaron Moll of Berkadia’s Detroit office secured these loans on behalf of Valleytree Partners.
Largest of the three was a $35.9-million non-recourse loan for Bedford Square. The loan provides Valleytree with 80% LTC and three years of interest-only payment.
“It has been great working with Valleytree,” said Moll. “They have been performing tremendously well on their Michigan portfolio. Valleytree has created an impressive amount of value at Dearborn View under their ownership. They have greatly improved the housing for their tenants and their investment value. I am sure Bedford Square and Delta Square will be no exception as Valleytree will implement their already proven business plan to create a better community for their residents while optimizing returns for their investors.”
Pictured: Dearborn View.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

