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Chicago & Midwest  + Midwest  + Apartments  |  July 15, 2026
Jasmine Kilman
By: Jasmine Kilman

CPC Mortgage Company Secures $42M to Rehabilitate Michigan Housing Property

CPC Mortgage Company, a subsidiary of The Community Preservation Corporation, has structured a $42.1 million loan for the preservation and rehabilitation of Parkside Estates and Demby Terraces, a 315-unit affordable housing community in Inkster, Michigan.

Developed by Good Housing Partnership in partnership with the Inkster Housing Commission, the properties will undergo a full rehabilitation and conversion under the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration program, transitioning from public housing to Section 8.

CPC Mortgage Company provided the permanent financing through a Freddie Mac Targeted Affordable Housing forward commitment structured as a tax-exempt loan. The financing structure includes Huntington Bank, which served as the lead arranger and agent of the construction loan, with Deutsche Bank and Associated Bank as co-lenders. Cinnaire acted as the Low-Income Housing Tax Credit syndicator. The rehabilitation will include extensive upgrades to both the site and residential units.

Join the industry’s top multifamily decision-makers at Connect Apartments on September 22 in L.A. 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.

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CinnaireCPC

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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