Farmington Hills, Michigan (October 4, 2018) – Friedman Finance is pleased to announce that it recently arranged a $13.6 million loan for a newly constructed 116 unit, Class A multifamily community located in East Lansing, Michigan. The loan features a 30-year term with a fixed rate below 4.5%. The loan was originated by Ryan Denomme, Director of Friedman Finance, and was closed with a well-respected life insurance company on behalf of one of the company’s longstanding clients.
“We timed this deal perfectly,” said Denomme. “The client was able to lock in a great rate 90 days prior to close while finishing construction of their final units. Treasury rates increased during the rate lock period providing a great benefit to the client on a loan that was already almost 0.75% below comparable Fannie Mae options.”
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.