Q10|Lutz Arranges $2M Refinancing for Multifamily Property in Warren, Michigan
WARREN, MICH. — Q10|Lutz Financial Services has arranged a $2 million loan for the refinancing of a 34-unit multifamily property in Warren, a northern suburb of Detroit. The asset was fully occupied at the time of refinancing. Steven Siegel of Q10|Lutz arranged the non-recourse loan on behalf of the undisclosed borrower. Loan terms included 80 percent leverage, a fixed interest rate of 4.66 percent, 10-year term and 30-year amortization schedule. A Southeast-based lender provided the loan.