FRIEDMAN FINANCE SECURES $10 MILLION PERMANENT LOAN FOR REDFORD INDUSTRIAL BUILDING
Farmington Hills, Michigan (October 24, 2018) – Friedman Finance is pleased to announce that it recently arranged a $10 million loan for an 800,000 SF industrial building located in Redford, Michigan. The loan features a 10-year term with a 4.55% fixed rate. The loan was originated by Ryan Denomme, Director of Friedman Finance, and was closed with a well-respected life insurance company on behalf of a local investor group.
“The clients were looking to secure long-term, non-recourse financing to protect them against rising interest rates but also wanted prepayment flexibility,” said Denomme. “This loan allowed them to lock in a very attractive rate for 10 years and included a declining prepayment structure to allow the borrowers an exit if their plans for the property were to change in the future.”
Friedman Finance specializes in matching investors and owners of commercial real estate with sources of capital. Utilizing our network of banks, credit unions, life insurance companies, CMBS lenders and private equity investors, we provide debt and equity solutions for investment real estate projects of all types. Friedman Finance is a subsidiary of Friedman Real Estate.
ABOUT FRIEDMAN REAL ESTATE
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate provides clients with a single point of contact for the full range of Property Management, Brokerage and Construction and Advisory services.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 11,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.