Bernard Financial Originates $10M Loan for Two Multifamily Properties

by Christina Cannon

BATTLE CREEK, MICH. — Bernard Financial Group has completed a $10 million loan for River Apartments and River Oaks Apartments located in Battle Creek. There are 288 units between the two properties. BC River Oaks Apartments LLC is the borrowing entity. Kevin Kovachevich of Bernard Financial originated the loan through a CMBS lender. River Apartments is a five-building, 120-unit property that was built in 1980. River Oaks Apartments is a seven-building, 168-unit complex that was built in 1976.

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