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Chicago & Midwest  + Midwest  + Finance  | 

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

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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