Multifamily property in Detroit, MI

A proven lease-up track record offered a new borrower flexibility on long-term financing

A borrower new to Fannie Mae locked in permanent financing before their building was fully leased thanks to this Near-Stabilization deal. Their confirmed lease-up track record enabled us to provide flexibility and get this $41 million deal done with Berkadia. This new 180 unit property offers more rental housing options for Detroit, MI residents.