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Chicago & Midwest  + Midwest  + Industrial  |  November 12, 2024
Jasmine Kilman
By: Jasmine Kilman

Berkadia Sources $28M for Detroit Industrial Development

Berkadia JV Equity & Structured Capital, led by Noam Franklin, Cody Kirkpatrick, Chinmay Bhatt, Alex Bonda and Luke Safranek of Berkadia Detroit, has arranged $28.6 million in financing for a new build-to-suit industrial development in Detroit.

Berkadia arranged the capital through Denver-based Forum Investment Group. “The unique nature of the deal combined with the strong sponsorship with decades of development experience created a lot of excitement in the market for this opportunity,” said Bhatt.

“We are excited to be partnering with the Berkadia team on this transaction,” said Joe Chickey, Managing Director – Private Credit at Forum. “We look forward to more opportunities to provide debt and equity capital to qualified sponsors and developers in support of their development, acquisition and recapitalization of real estate assets in the U.S.” 

Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!

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ForumBerkadia

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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