Berkadia Secures $9.3M Refinancing for Multifamily Property in Grand Rapids

GRAND RAPIDS, MICH. — Berkadia has secured a $9.3 million loan for the refinancing of Lofts on Michigan in Grand Rapids. Built in 2016, the multifamily property features 54 units and ground-floor retail space. Situated at 740 Michigan St. NE, the building offers convenient access to the Medical Mile and downtown Grand Rapids. Aaron Moll of Berkadia arranged the CMBS loan on behalf of the undisclosed borrower.

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