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Red Oak Funds Bridge Loan on Detroit’s UAW-GM Center

Red Oak Financial, a Michigan-based commercial real estate finance company, funded a loan to Moceri Companies and 400 Monroe Associates for the acquisition of the UAW-GM Center for Human Resources in Detroit. The 18-acre, mixed-use campus contains 420,000 square feet of space along the Detroit Riverfront. 
Red Oak’s Gary Bechtel said, “We were attracted to this opportunity in Detroit because it checks all the boxes we seek when funding loans to achieve attractive, risk-adjusted returns. That includes a strong sponsor we are confident can elevate this iconic asset to its fullest potential, and a market that is experiencing a transformation through urban revitalization efforts.”
The $21.7-million, two-year bridge loan includes features such as an 8.00% interest rate, on an interest-only basis. The loan lends itself to participation with insurance companies or other private lenders. The loan will be serviced by Red Oak.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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