Michigan

Marcus & Millichap Brokers $5.8M Sale of Medical Office Property in Davison, Michigan

by Kristin Harlow July 17, 2026

DAVISON, MICH. — Marcus & Millichap has brokered the $5.8 million sale of a 50,017-square-foot medical office property in Davison, a suburb of Flint. The two-suite office building is situated on 3.3 acres at 1515 Cal Drive. Built in 2003, the property is fully occupied by McLaren Health Management Group and The Cottage of Davison. McLaren provides home health, palliative care, hospice, home infusion, long-term care pharmacy and comprehensive laboratory services. The Cottage of Davison is a full-service memory care community. Jacob Keith and David Weinberg of Marcus & Millichap represented the seller, the owner and build-to-suit developer. A local OBR procured the buyer, a Michigan-based investor.

July 17, 2026

Acquisitions Leasing Activity Michigan Midwest Retail

SpurLine, Midloch Acquire 45,000 SF Retail Property Near Ann Arbor to Be Occupied by VASA Fitness

by Kristin Harlow July 13, 2026

YPSILANTI, MICH. — SpurLine Holdings and Midloch Investment Partners have acquired a 45,000-square-foot store formerly occupied by JoAnn Fabrics in Ypsilanti for $5.1 million. Following a gut renovation, the property will be occupied by VASA Fitness. The asset is part of a shopping center anchored by Meijer and Target. Cory Gross of Marcus & Millichap represented the buyers. Completion and occupancy are targeted for May 2027. The transaction represents the second joint investment between SpurLine and Midloch. In May 2025, the firms acquired a vacant, former Safeway grocery store in Longmont, Colo. That space also became occupied by VASA Fitness.

July 13, 2026

Acquisitions Hospitality Michigan Midwest

Inland Sells Two Hilton-Branded Hotels in Michigan for $32M

by Kristin Harlow July 10, 2026

HOLLAND, MICH. — An affiliate of Inland National Development Co. LLC, a member company of The Inland Real Estate Group of Cos. Inc., has sold Tru by Hilton Holland (98 rooms) and Home2 Suites by Hilton Holland (109 rooms) for a combined sales price of $32 million. The hotel properties are located along US 31, providing convenient access to Holland State Park and Ottawa Beach. Tru by Hilton caters to short-term travelers with amenities such as a hot breakfast, indoor heated pool and fitness center. Home2 Suites by Hilton is designed for extended-stay guests, featuring apartment-style accommodations with fully equipped in-suite kitchens, complimentary Wi-Fi and breakfast. Guests of both hotels can benefit from shared amenities.

July 10, 2026

Affordable Housing Development Michigan Midwest Mixed-Use Multifamily

Southfield City Council Approves $65.1M Office Redevelopment Project in Metro Detroit

by Kristin Harlow July 8, 2026

SOUTHFIELD, MICH. — The Southfield City Council has approved a $65.1 million redevelopment project that will transform the former Blue Cross Blue Shield campus on West 11 Mile Road into a mixed-use community featuring 305 workforce housing apartments, neighborhood retail and opportunities for future commercial development. The project, led by DV Properties LLC, an affiliate of Brady Sullivan, will breathe new life into two former office towers that have remained underutilized for years. All apartments will be marketed to households earning up to 120 percent of the area median income. Construction timelines and additional project updates will be shared as redevelopment activities move forward, according to the city.

July 8, 2026

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $7M Loan for Refinancing of Michigan Multifamily Property

by Kristin Harlow June 25, 2026

TAYLOR, MICH. — Bernard Financial Group has arranged a $7 million permanent loan for the refinancing of a 236-unit multifamily property in Taylor, about 16 miles southwest of downtown Detroit. Joshua Bernard arranged the loan through a life insurance company on behalf of the borrower, Taylor Park Apartments LP.

June 25, 2026

Development Loans Michigan Midwest Mixed-Use Retail

Michigan Strategic Fund Approves $270.7M Plan for Redevelopment of Former Lakeside Mall

by Kristin Harlow June 24, 2026

STERLING HEIGHTS, MICH. — Gov. Gretchen Whitmer and the Michigan Strategic Fund Board have approved a $270.7 million Transformational Brownfield Plan (TBP) to support the redevelopment of the former Lakeside Mall site in Sterling Heights. The proposed plan includes roughly 1,545 residential units across nine multifamily buildings ranging in size from four to five stories, including a building targeted at residents over 55 years of age. Additionally, the project will add 154,007 square feet of new retail space, a central community park and green space and a mix of parking lots and street parking for residents and visitors. When complete, the project is estimated to result in $621 million in total capital investment. Aside from participating in tax revenue capture to support the redevelopment plan, the City of Sterling Heights intends to proceed with a bond issuance of approximately $27.6 million to assist in the cost of the infrastructure. The total TBP incentive package will be reimbursed over 30 years. The developer, Lakeside OOTB Ventures LLC, is a subsidiary of Lionheart Capital. Lakeside Mall closed in July 2024.

June 24, 2026

Loans Michigan Midwest Multifamily

BWE Arranges $37M Bridge Loan for Apartment Building in Kalamazoo, Michigan

by Kristin Harlow June 24, 2026

KALAMAZOO, MICH. — BWE has arranged a $37 million bridge loan for The Exchange, a 15-story apartment building in Kalamazoo. BWE’s Chris Carroll, Cathy Bronkema and Max Miller originated the financing from a debt fund on behalf of the borrower, a local commercial and residential property developer. Delivered in December 2020, The Exchange features ground-floor retail space, structured parking and luxury apartment units. Amenities include a roof deck, outdoor patio, fitness center, clubroom, package handling room and bike storage.

June 24, 2026

Acquisitions Hospitality Michigan New Jersey Northeast Top Stories

Ilitch Cos. Agrees to Acquire Two Casinos in Mississippi and New Jersey, Forms Ilitch Gaming

by Matthew Auchincloss June 19, 2026

DETROIT — Ilitch Cos., which owns and operates the Detroit Red Wings, the Detroit Tigers, pizza chain Little Caesar’s and Olympia Entertainment, has agreed to acquire Scarlet Pearl Casino Resort in D’Iberville, Miss., as well as the remaining 50 percent ownership interest in Ocean Casino Resort in Atlantic City, N.J. In conjunction, Ilitch Cos. CEO Chris Ilitch has also announced the formation of Ilitch Gaming, a new enterprise that will oversee the company’s gaming businesses, including the two new casinos. Detroit-based Ilitch Cos. also owns MotorCity Casino Hotel, located in Detroit, which will also now come under Ilitch Gaming’s operating umbrella. Scarlet Pearl Casino Resort is a 300-key hotel with a gaming floor containing more than 800 slots and video poker machines and 30 table games. The property also features multiple amenities and a 36-hole miniature golf course. The purchase of Scarlet Pearl Casino Resort marks the third market Ilitch Cos. has expanded into. Ocean Casino Resort features 1,860 rooms with a 135,000-square-foot casino floor, a 4,500-seat concert venue and 160,000 square feet of meeting and convention space. The beachfront property spans than 20 acres and offers proximity to the Atlantic City Boardwalk. In addition, Ocean Casino Resort offers a …

June 19, 2026

Acquisitions Development Hospitality Michigan Midwest

CooperWynn Capital Arranges Financing for Acquisition, Rebrand of 203-Key Detroit Hotel

by Kristin Harlow June 18, 2026

DETROIT — CooperWynn Capital has arranged financing, including bridge debt and joint venture equity, for the acquisition and conversion of the 203-key DoubleTree Suites Detroit Downtown Fort Shelby hotel. The borrower is 6PM Hospitality Partners LLC. The financing includes a roughly $14.5 million preferred equity investment from Peachtree Group as part of a total capitalization of approximately $42 million. The property, which is listed on the National Register of Historic Places, will be rebranded as an Embassy Suites by Hilton and will undergo extensive renovations to guestrooms, public spaces, food-and-beverage outlets and meeting spaces. The hotel is expected to reopen later this year as a 204-key, all-suite hotel that will be managed by 6PM Hospitality Partners. The asset was originally constructed in 1917 and designed by renowned Detroit architect Albert Kahn. The hotel underwent a restoration in 2008 in connection with its repositioning under the DoubleTree by Hilton brand, followed by a refresh in 2023.

June 18, 2026

Loans Michigan Midwest Multifamily

Berkadia Arranges $35.2M Refinancing for Multifamily Property in Suburban Detroit

by Kristin Harlow June 12, 2026

LAKE ORION, MICH. — Berkadia has arranged a $35.2 million loan to refinance Indian Lake Village Apartments, a 394-unit multifamily property in Lake Orion, a village located in the northern outskirts of Detroit. Wesley Moczul, Mitch Sinberg, Scott Wadler, Matt Robbins and Brad Williamson of Berkadia arranged the financing on behalf of the sponsor, Farmington Hills, Mich.-based Fenton Management Co. Freddie Mac purchased the 10-year, fixed-rate loan. The garden-style property is situated on 58 acres and was built between 1995 and 1997. There are 27 residential buildings with a mix of apartments and townhomes averaging 1,012 square feet. Amenities include a clubhouse, fitness center, business center, pool, tennis and volleyball courts, a sauna, game room, billiards room, library and conference room, pet play area and covered parking.

June 12, 2026

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