ACRES Capital Provides $30.5M Acquisition Loan for Multifamily Community in Lansing, Michigan

LANSING, MICH. — ACRES Capital has provided a $30.5 million first mortgage to finance the acquisition of Gateway Lofts, a student-oriented multifamily community in Lansing. Built in 2021, the property features 181 units across a five-story building. In addition to 9,334 square feet of ground-floor retail space, the community features a fitness center, clubhouse, game room, coffee bar, bike storage, conference room and 204 surface parking spaces. The property is located 0.7 miles from Michigan State University. Vesper was the borrower.