TOWLE CLOSES $32.6M IN LOANS

MINNEAPOLIS — Towle Financial Services has closed $32.6 million in loans in 12 separate transactions. The loans included $15.8 million for five apartment complexes, $9.5 million for four senior living properties and $7.3 million for two industrial properties. All of the loans were financed by correspondent life insurance companies. Dan Mott, Mark Vannelli and Mike Polencheck of Towle's Minneapolis office and Otto Kern of the Detroit office originated the loans.