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Bernard Financial Group Arranges $74.9M HUD-Insured Loan for Refinancing of Multifamily Property in Ypsilanti

YPSILANTI, MICH. — Bernard Financial Group has arranged a $74.9 million HUD-insured loan for the refinancing of a multifamily property in Ypsilanti. The loan is the largest 223(f) HUD loan in over 30 years, according to Southfield-based Bernard Financial. The borrower was LITW LLC. Dennis Bernard and Dan Duggan of Bernard Financial arranged the loan with Gershman Mortgage. Further loan terms and property details were undisclosed.

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