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Chicago & Midwest  + Midwest  + Finance  | 

Fannie Mae Loans Finance Michigan Apartment Buys

CBRE provided two Fannie Mae DUS conventional loans totaling $15,957,000 to finance the acquisition of two multifamily properties in Michigan. The loans were obtained by  Michael Duggan, Brian Robertson, and Sam Orman of CBRE Capital Markets’ Debt & Structured Finance Team and David Carey of Emerald Isle Investment Partners on behalf of their client, VennPoint Real Estate.

Blue Heron Pointe is a 64-unit, nine building property located at 6244 Trumpeter Ln. in Ypsilanti, MI. The Ravines of Plymouth apartments are a 54-unit, five building property located at 13050 Woodridge Cir. in Plymouth, MI.

Both loans are fixed for 10 years and are interest-only over the full term of the loan.

“VennPoint is an experienced sponsor and we look forward to future opportunities with them as they continue to add to their real estate portfolio,” said Duggan.

Pictured: The Ravines of Plymouth.

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For comments, questions or concerns, please contact Paul Bubny

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Inside The Story

Connect With CBRE’s DugganConnect With Emerald Isle's CareyConnect With VennPoint

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).

  • ◦Financing
  • ◦Sale/Acquisition
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