Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Berkadia Secures $12M in LIHTC Equity for Michigan Housing Property
Berkadia secured financing for Lighthouse Ridge Apartments, a 52-unit garden-style multifamily property in South Haven, Michigan.
Associate Director James Grande of Berkadia Affordable Housing led the Berkadia team in securing $12.4 million in LIHTC equity on behalf of the developer, Wallick Development, in partnership with Bogan Developments and Mno-Bmadsen. The deal marks Berkadia’s first closing with Wallick. “Lighthouse Ridge Apartments is a meaningful project for the South Haven market,” said Grande. “This investment supports the creation of new housing options that will benefit the broader community for years to come.”
Once complete, the community will include 40 two-bedroom and 12 three-bedroom units housed in three buildings. It will also include a separate clubhouse, which will house the community space, management office, laundry room, fitness center and business center.
Join the industry’s top multifamily decision-makers at Connect Apartments on September 22 in LA. Hear from the investors, developers, lenders, owners, and advisors shaping today’s apartment market through candid conversations, networking, and market insights. Register today at www.connectapts2026.com.
