REBusinessOnline

Bernard Arranges $4.8M Refinancing for Industrial Property in Chesterfield Township, Michigan

CHESTERFIELD TOWNSHIP, MICH. — Bernard Financial Group has arranged a $4.8 million loan for the refinancing of a 145,063-square-foot industrial property in Chesterfield Township, about 30 miles north of Detroit. An undisclosed tenant occupies the building. David Dismondy of Bernard arranged the loan on behalf of the borrower, 50625 RWB LLC. Genworth Life Insurance Co. provided the

Marmo Meccanica Purchases 13,519 SF Industrial Building in Pontiac, Michigan

PONTIAC, MICH. — Marmo Mecccanica NA has purchased a 13,519-square-foot industrial building in Pontiac for an undisclosed price. The company, which specializes in the manufacturing of edge polishing and bridge cutting machines used in granite fabrication, will relocate to the space at 1590 E. Highwood Blvd. Built in 1990, the building features overhead cranes and a flexible floor plan to accommodate expansion. Tom Jablonski of L. Mason Capitani CORFAC International represented Marmo Meccanica …

Anytime Restoration Signs 10,500 SF Industrial Lease in Warren, Michigan

WARREN, MICH. — Anytime Restoration Service Inc. has signed a 10,500-square-foot industrial lease in Warren. The disaster restoration company that specializes in both commercial and residential projects involving water, fire and mold cleanup will occupy the space at 6655 Chicago Road. Matthew Farrell and Kevin Tamer of CORE Partners represented the tenant in the five-year lease transaction. Brad Hitch of Deco Properties represented the undisclosed

KeyBank Originates $14.7M Refinancing for Multifamily Property in Grand Blanc, Michigan

GRAND BLANC, MICH. — KeyBank Real Estate Capital has originated a $14.7 million Fannie Mae loan for the refinancing of The Grand in Grand Blanc near Flint, Mich. Developed between 2014 and 2017, the multifamily property features 102 garden-style units. Todd Linehan of KeyBank originated the 10-year loan, which includes a 30-year amortization

Love Funding Secures $7M HUD Loan for 232-Unit Affordable Seniors Housing Property in Detroit

DETROIT — Love Funding has secured a $7 million HUD 223(f) loan for the refinancing of Central Towers Apartments in Detroit. The affordable seniors housing property features 232 units within two buildings. David Strachan and Bruce Gerhart of Love Funding secured the 35-year loan. Financing proceeds will be used to pay off current debt, complete repairs and fund the reserve

Hospitality Ventures, Investra Capital Purchase 12-Property Hotel Portfolio

ATLANTA — Atlanta-based Hospitality Ventures Management Group (HVMG), in conjunction with Investra Capital Group Ltd., has completed the acquisition of a 12-property hotel portfolio totaling 1,465 rooms. The purchase price was not disclosed. The portfolio comprises Marriott- and Hyatt-branded hotels across the Midwest, Southeast and Southwest. The Midwest properties include the 84-room Courtyard Grand Rapids Airport in Grand Rapids, Mich.; the 147-room Courtyard Detroit Southfield in …

Marcus & Millichap Arranges Sale of 72,125 SF Self-Storage Facility in Waterford, Michigan

WATERFORD, MICH. — Marcus & Millichap has arranged the sale of Secured Self Storage in Waterford, about 35 miles northwest of Detroit. The sales price was not disclosed. The 72,125-square-foot self-storage facility is located at 4303 Highland Road. Built in 1982, the property consists of 20 climate-controlled units and 535 standard units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also …

Berkadia Arranges Sale of 896-Bed Student Housing Property Near the University of Michigan

ANN ARBOR, MICH. — Berkadia has arranged the sale of The Courtyards Apartments in Ann Arbor for an undisclosed price. The 896-bed student housing property features 320 units ranging from one- to four-bedroom floor plans. Amenities include a game room, movie theater, fitness center, picnic area, study room and bike storage. The property is situated near the University of Michigan’s North Campus. Kevin Larimer and Greg Gonzalez of Berkadia represented the seller, Chicago-based Kensington …

NAI Wisinski Brokers Sale of 20,168 SF Shopping Center in Grand Rapids, Michigan

GRAND RAPIDS, MICH. — NAI Wisinski has brokered the sale of Northland Plaza in Grand Rapids for an undisclosed price. The 20,168-square-foot shopping center is located at 3325 Plainfield Ave. NE. The property, currently home to a fitness center and tanning salon, will be renovated. Bill Tyson and Todd Leinberger of NAI Wisinski represented the buyer, 1923 Property LLC. Darrel Herweyer of DAR Development represented the undisclosed

L. Mason Capitani CORFAC International Brokers Sale of 55,528 SF Office Building in Auburn Hills, Michigan

AUBURN HILLS, MICH. — L. Mason Capitani CORFAC International has brokered the sale of Oakland Euro Center in Auburn Hills. The 55,528-square-foot office building is located at 3201 University Drive. The property is 97 percent leased by 10 tenants. The sales price was not disclosed, but the asking price was reported to be $5.7 million. Mason L. Capitani represented the buyer, LSTC Michigan LLC, in the transaction. This sale represents the seventh acquisition in metro Detroit for the …