Michigan Archives - REBusinessOnline

Cinnaire Closes $134M LIHTC Fund for 12 Affordable Housing Projects Across Five States

Kristin Harlow — Tue, 20 Jan 2026 13:47:23 +0000

LANSING, MICH. — Cinnaire has closed a $134 million low-income housing tax credit (LIHTC) fund, Cinnaire Fund for Housing 44. The fund will finance 12 affordable housing developments across five states, creating or preserving 950 homes for families, seniors and individuals with special needs. Fund 44 will support developments such as Chamberlain House in Rochester, Ind., East Bay Flats in Traverse City, Mich. and Element Collective in Madison, Wis. Chamberlain House is a new development with 40 affordable housing units for families, including eight units reserved for Indiana’s State Referral Network with project-based vouchers from the Indiana Housing & Community Development Authority. Housing Directions and Village Management Co. is developing the project. East Bay Flats is a rehabilitation project delivering 64 affordable homes for individuals who are homeless or at risk of homelessness. All units are supported by project-based rental subsidies from the Michigan State Housing Development Authority, with onsite supportive services provided by Goodwill Northern Michigan. The development team includes Goodwill Northern Michigan and TJ Acquisitions. Element Collective is a new property in Dane County that will create 197 affordable homes for families, including five units reserved for individuals experiencing or at risk of homelessness. As part of…

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Gantry Arranges $12M Refinancing for Two Self-Storage Facilities in Suburban Detroit

Kristin Harlow — Mon, 19 Jan 2026 15:03:45 +0000

DETROIT — Gantry has arranged $12 million across two loans to refinance maturing debt for a pair of National Storage-branded facilities in suburban Detroit on behalf of Pogoda Cos. The stabilized properties offer 1,082 units totaling more than 141,000 net rentable square feet with additional vehicle storage and both climate-controlled and drive-up units. Andy Weiss, Andy Bratt and Nick Severson of Gantry represented the borrower, a private real estate investor. A life insurance company provided the seven-year, fixed-rate loan, which features interest-only payments for the full term and flexible prepayment. Gantry will service the loan on behalf of the lender.

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UPS Signs 1,304 SF Retail Lease at Canton Landings Shopping Center in Michigan

Kristin Harlow — Tue, 13 Jan 2026 14:05:02 +0000

CANTON TOWNSHIP, MICH. — The UPS Store has signed a 1,304-square-foot retail lease at Canton Landings on Ford Road in Canton Township, a western suburb of Detroit. Michael Murphy and Owen Kelly of Gerdom Realty & Investment represented the undisclosed landlord. Lindsey Shaw of Mid-America Real Estate Group represented the tenant. One space remains available for lease at Canton Landings.

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Mid-America Brokers Sale of 99,529 SF Retail Center in Grand Rapids

Kristin Harlow — Mon, 12 Jan 2026 14:45:22 +0000

GRAND RAPIDS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Cascade East, a 99,529-square-foot, grocery-anchored retail center in Grand Rapids. The property was 97 percent leased at the time of sale to D&W Fresh Market, Hallmark, Sola Salon Studios, iSmash, Your Pets Naturally, HOTWORX, Warhammer and Pit Stop Catering. Ben Wineman, Eric Geskermann and Daniel Stern of Mid-America represented the seller, a publicly traded REIT. Batal Real Estate, a metro Detroit-based private investment firm, was the buyer.

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Cushman & Wakefield Brokers $56M Sale of Oncology Center Portfolio in Western Michigan

Kristin Harlow — Fri, 09 Jan 2026 14:09:02 +0000

GRAND RAPIDS, HOLLAND, NORTON SHORES AND BIG RAPIDS, MICH. — Cushman & Wakefield has brokered the $56 million sale of the Michigan OneOncology Cancer Center portfolio, a five-property portfolio totaling 152,289 square feet across western Michigan. The oncology-focused medical outpatient buildings, located in Grand Rapids, Holland, Norton Shores and Big Rapids, were fully leased at the time of sale. OneOncology operates the centers in partnership with The Cancer & Hematology Centers. The facilities are situated near Corewell Health and Trinity Health hospitals. Each property serves as a treatment hub with infusion bays, onsite radiation oncology and specialty pharmacy services. Gino Lollio, Travis Ives, Tyler Morss and Garrett Keais of Cushman & Wakefield represented the seller, a group of physicians and investors associated with the operating practice of the facilities.

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Mid-America Brokers Sale of 714,000 SF Retail Portfolio Across Three States

Kristin Harlow — Tue, 06 Jan 2026 13:56:28 +0000

MICHIGAN, WISCONSIN AND ALABAMA — Mid-America Real Estate Corp. has brokered the sale of a four-property shopping center portfolio totaling over 714,000 square feet of retail space across Michigan, Wisconsin and Alabama. Atlanta-based RCG Ventures sold the portfolio to Beaumont, Texas-based Albanese Cormier. Bison Hollow Shopping Center in Traverse City, Mich., totals 134,798 square feet and is fully leased to Kohl’s, T.J. Maxx and Michaels. The 152,073-square-foot Oak Brook Square in Flint, Mich., is 97 percent leased. Tenants include T.J. Maxx, Hobby Lobby, Five Below, Dollar Tree, Skechers, Bath & Body Works and Buffalo Wild Wings. In Oshkosh, Wis., a two-tenant building totaling 52,302 square feet is fully occupied by Dick’s Sporting Goods and PetSmart. McGowin Park in Mobile, Ala., totals 374,881 square feet and is 98 percent leased to Dick’s House of Sport, Best Buy, Hobby Lobby, Ross, Petco and Old Navy. Ben Wineman of Mid-America brokered the sale in cooperation with Greg Hess of TSCG on McGowin Park; Daniel Stern of Mid-America on Bison Hollow and Oak Brook Square; and Nick Kohlmann, George Ghattas and Dan Rosenfeld of Mid-America on the Wisconsin property.

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Bernard Financial Group Secures $39.9M HUD-Insured Loan for Michigan Multifamily Property

Kristin Harlow — Mon, 05 Jan 2026 14:42:17 +0000

TROY, MICH. — Bernard Financial Group (BFG) has secured a $39.9 million HUD 223(f) loan for a 200-unit multifamily property in Troy. Joshua Bernard of BFG arranged the loan on behalf of the borrower, F Squared LLC. BFG is a member of Strategic Alliance Mortgage.

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Family Farm & Home to Backfill 30,000 SF Former Big Lots Space in Bay City, Michigan

Kristin Harlow — Tue, 23 Dec 2025 14:40:33 +0000

BAY CITY, MICH. — Family Farm & Home will open a new location at 1001 N. Euclid Ave. in Bay City. The 30,000-square-foot space was formerly home to Big Lots. Peter Abro of Keystone Commercial Real Estate arranged the lease. Family Farm & Home is a Michigan-based company that offers farm supplies, home improvement tools and outdoor power equipment.

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Landmark, Manulife Break Ground on 259-Bed Student Housing Community in Ann Arbor

Kristin Harlow — Fri, 19 Dec 2025 14:05:30 +0000

ANN ARBOR, MICH. — Landmark Properties and Manulife Investment Management have broken ground on The Metropolitan on South U, a 259-bed student housing community located adjacent to the University of Michigan campus in Ann Arbor. The project marks the sixth in a build-to-core joint venture executed with the Manulife Infrastructure Fund pool. Landmark Construction is building the project, with Myefski Architects as the architect. Peninsula Investments also partnered on the development. Located at 1208 S. University Ave., The Metropolitan on South U will feature fully furnished residences. Amenities will include a clubhouse, fitness center, resort-style pool and rooftop lounge. There will be roughly 5,000 square feet of ground-floor retail space.

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Hungry Habibi Signs 1,228 SF Restaurant Lease in Shelby Township, Michigan

Kristin Harlow — Tue, 16 Dec 2025 14:23:16 +0000

SHELBY TOWNSHIP, MICH. — Hungry Habibi has signed a 1,228-square-foot lease to open at The Shops at Nottinghill Village in Shelby Township. The lease marks the fast-casual Mediterranean restaurant’s third location in Michigan. Michael Murphy of Gerdom Realty & Investment represented the landlord, Beztak Properties. Zoran Saveski of Esoteric Realty represented the tenant.

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Merchants Capital Secures Debt, Equity Financing for 200-Unit Workforce Housing Project in Michigan

Kristin Harlow — Mon, 08 Dec 2025 15:10:28 +0000

WYOMING, MICH. — Merchants Capital has secured $74.1 million in debt and $16.7 million in low-income housing tax credit (LIHTC) equity financing for HōM Flats at 28 West Phase 3, a mixed-income workforce housing development in Wyoming near Grand Rapids. Magnus Capital Partners is the developer. Merchants Capital arranged a $30.6 million Freddie Mac 4 percent unfunded forward tax-exempt loan, $16.7 million in 4 percent LIHTC equity financing and a $43.5 million construction bridge loan provided by Merchants Bank. Part of the City of Wyoming’s City Center redevelopment plan, HōM Flats at 28 West Phase 3 adds a residential community adjacent to 28 West Place, a walkable shopping area, and connects to a trail system, pedestrian bridge and Courtside by HōM Flats, a seasonal food truck park. The five-story development will include 162 units restricted for households earning between 40 and 80 percent of the area median income and 38 market-rate units. Phase 1 of HōM Flats at 28 West included 226 units and Phase 2 featured 160 units. Upon completion, Phase 3 will include 63 one-bedroom units, 114 two-bedroom units, 23 three-bedroom apartments and 8,894 square feet of ground-floor commercial space within four elevator-serviced buildings. A childcare center, Grō…

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Marcus & Millichap Secures $38M Acquisition Loan for Detroit Multifamily Property

Kristin Harlow — Wed, 03 Dec 2025 15:18:55 +0000

DETROIT — Marcus & Millichap Capital Corp. (MMCC) has arranged a $38 million acquisition loan for Infinity Park, a 484-unit multifamily property located at 14075 Riverview St. in Detroit. Kevin Elliott of MMCC arranged the financing with a national bank on behalf of the private borrower. The nonrecourse loan features a five-year term, 70 percent loan-to-value ratio, 5.9 percent interest rate and 30-year amortization period. The gated property features a mix of one- and two-bedroom units.

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Mid-America Brokers Sale of 121,184 SF Shopping Center in Southgate, Michigan

Kristin Harlow — Tue, 02 Dec 2025 14:25:21 +0000

SOUTHGATE, MICH. — Mid-America Real Estate Corp. has brokered the sale of Dix-Toledo Shopping Center, a 121,184-square-foot shopping center in the Detroit suburb of Southgate. The property is 92 percent leased to retailers such as TJ Maxx, Ross Dress for Less, Chuck E. Cheese, Snipes and Hook & Reel. Ben Wineman and Daniel Stern of Mid-America represented the seller, a private family. The buyer was a Detroit-based private investment company.

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Berkadia Brokers Sale of 335-Site Manufactured Housing Portfolio in Michigan

Kristin Harlow — Wed, 19 Nov 2025 15:05:53 +0000

MICHIGAN — Berkadia has brokered the sale and arranged financing for the Michigan MHC Portfolio, which comprises four manufactured housing communities (MHC) with 335 sites across the state. Kevan Enger of Berkadia represented the seller, California-based Urban West Ventures. Scott Modelski of Berkadia secured acquisition financing through Barclays – Conduit on behalf of the buyer’s Chicago-based affiliate, Butler Communities. The portfolio includes Pontaluna Shores in Norton Shores, Broadway Acres in Mount Pleasant, University Mobile Estates in Whitmore Lake and Brookhaven in Comstock Park. The assets were built in 1967, 1986, 1952 and 1970, respectively.

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Mid-America Brokers Sale of 225,307 SF Shopping Center in Metro Grand Rapids

Kristin Harlow — Tue, 18 Nov 2025 14:35:44 +0000

WALKER, MICH. — Mid-America Real Estate Corp. has brokered the sale of Green Ridge Square, a 225,307-square-foot shopping center in Walker, a northwest suburb of Grand Rapids. Shadow anchored by Target, the property is home to Best Buy, Burlington, Michaels, Urban Air, Five Below, Panera and Shoe Dept. Ben Wineman and Daniel Stern of Mid-America represented the seller, Birmingham, Mich.-based Bacall Cos. Seattle-based Bridge33 Capital was the buyer.

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Angstrom NA to Relocate Global Headquarters in Southfield, Michigan

Kristin Harlow — Fri, 14 Nov 2025 14:19:04 +0000

SOUTHFIELD, MICH. — Angstrom NA LLC has unveiled plans to relocate its global headquarters to the newly renamed Angstrom Office Center in the Detroit suburb of Southfield. Located on Telegraph Road, the office property totals 233,400 square feet across six stories. Angstrom will occupy the sixth floor. Rick Ax and Brad Margolis of NAI Farbman negotiated the lease. Over the past five years, the building has undergone more than $20 million in upgrades, including a newly built cafeteria, coffee bars, lounge spaces, game rooms and conference rooms. Angstrom is a tier 1 full-service supplier for automotive and industrial original equipment manufacturers. The company’s current headquarters are at 2000 Town Center in Southfield.

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Woda Cooper, Keweenaw Bay Indian Community Open 50-Unit Affordable Housing Project in Michigan

Kristin Harlow — Mon, 10 Nov 2025 15:07:09 +0000

MARQUETTE, MICH. — Woda Cooper Cos. Inc. and the Keweenaw Bay Indian Community (KBIC) have opened Black Rock Crossing, a 50-unit affordable housing project in Marquette. The property features 26 one-bedroom units and 24 two-bedroom apartments for residents who earn between 30 to 80 percent of the area median income. Nine of the units are set aside for members of KBIC, and five units are adapted for people with mobility disabilities or sight/hearing challenges. Monthly rents range from $302 to $1,175, depending on income limits and size of unit. Amenities include a second-floor outdoor terrace, multipurpose room, fitness center, common laundry and outdoor playground area. The building is certified as LEED Zero Energy, which will result in lower energy costs for residents. The Michigan State Housing Development Authority allocated housing tax credits, which were purchased by KeyBank Community Development Lending and Investment to provide equity financing. KeyBank also provided a construction loan. Cedar Rapids Bank & Trust provided the permanent mortgage. The City of Marquette approved a Payment in Lieu of Taxes, and the Marquette Housing Commission provided eight project-based vouchers for rental assistance. PCI Design Group Inc. was the architect, and Woda Construction Inc. served as general contractor. Woda…

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Bernard Financial Group Arranges $13.6M Construction Loan for Michigan Self-Storage Project

Kristin Harlow — Fri, 07 Nov 2025 14:23:30 +0000

AUBURN HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $13.6 million construction loan for a self-storage project in Auburn Hills. Adam Ferguson of BFG arranged the loan with a banking institution. The borrowing entity was Opdyke/S Blvd Self-Storage LLC & 975 Opdyke II LLC.

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Sport Clips Leases 1,200 SF Retail Space in Shelby Township, Michigan

Kristin Harlow — Wed, 05 Nov 2025 14:39:12 +0000

SHELBY TOWNSHIP, MICH. — Sport Clips will open at the Kroger-anchored shopping center at the southeast corner of 25 Mile and Dequindre roads in Shelby Township, a northern suburb of Detroit. Bill McLeod and Tjader Gerdom of Gerdom Realty & Investment represented the tenant in the lease for the 1,200-square-foot space, which was formerly home to Supercuts. Adams Commercial Real Estate Group manages the property.

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NAI Wisinski of West Michigan Relocates Kalamazoo Office

Kristin Harlow — Tue, 04 Nov 2025 14:18:28 +0000

KALAMAZOO, MICH. — NAI Wisinski of West Michigan has relocated its Kalamazoo office to a new space at 650 Trade Centre Way in Portage. The building is a five-minute drive from the firm’s previous location on Whites Road. The 2,400-square-foot office features seven private offices and an open workspace. The company says the new layout supports its expanding brokerage and property management services across the region. NAI Wisinski opened its Kalamazoo location in 2013.

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