Deal Status

Active

Property Address

12345 Main Street, Detroit Michigan 48202

Requested Loan Amount

$6,500,000.00

Loan to Value

75%

Loan Term

4 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Multifamily

Multifamily Property Types

Apartments

Number of Units

40

Current Occupancy

Vacant

Loan Type

Acquisition and Value-Add

Square Footage

30,000

Renovation Description

This project is a conversion of an old factory to 40 apartment units in the city of Detroit, located by the New Center area. This project is also located in an opportunity zone. More detailed information available upon request with an NDA.

Renovation Budget

Yes

Future Value

$8,750,000

Future Loan to Value

70%

Renos Completed

5

Contractor

Yes

Team Ready

Yes

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Comments

This project is a conversion of an old factory to 40 apartment units in the city of Detroit, located by the New Center area. This project is also located in an opportunity zone.
More detailed budgets and analysis information available upon request with an NDA.

First Name

Dan

Last Name

Wega

Phone Number

(248) 592-7554

Company

Huntley Wega Group

Role

Borrower

Location

Royal Oak, Michigan

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