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JLL Secures $30M Financing for MF Portfolio in Michigan

JLL has secured the $30M financing for a two-property multi-housing portfolio in Michigan. The firm arranged the refinancing for the 407-unit Davis Creek Apartments in Portage and the 152-unit Canterbury East in Mt. Pleasant.

JLL worked on behalf of the borrower, The Millennia Companies, to secure the loan through Citigroup Inc. The JLL Capital Markets Debt Advisory team was led by Senior Director Jillian Mariutti and Director Alex Staikos.

Davis Creek Apartments was built in 1969 and renovated in 2013. It consists of 33 studio apartments, 276 one-bedroom and 98 two-bedroom units. Situated at 5419 Meredith Street, the property is located 15 minutes away from Downtown Kalamazoo and two miles away from I-94.

Built in 1979, Canterbury East features 82 one-bedroom units and 70 two-bedroom units and features a swimming pool, community room, 24-hour fitness center and basketball courts. Located at 1517 Canterbury Trail, the property is a 1.5-hour drive from Grand Rapids and a 2.5-hour drive from Detroit.

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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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