SunTrust Originates $16.3M Acquisition Loan for Multifamily Property in Warren, Michigan

by Kristin Harlow

WARREN, MICH. — SunTrust Banks Inc. has originated a $16.3 million bridge loan for the acquisition of Hoover Square in Warren, a suburb of Detroit. The 342-unit multifamily property, built in 1965, features one- and two-bedroom units. The asset is 90 percent occupied. Evan Hom of SunTrust originated the two-year, floating-rate loan on behalf of the Michigan-based borrower.

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