FRIEDMAN FINANCE SECURES PERMANENT LOAN FOR MIXED-USE BUILDING IN DETROIT, MICHIGAN
Farmington Hills, Michigan (June 14, 2019) – Friedman Finance is pleased to announce that it recently arranged a loan secured by a 14,000 SF mixed-use building in Detroit, Michigan.
Ryan Denomme, Director of Friedman Finance, originated the loan through a local bank.
“The property is located within a neighborhood of the city that is just starting to experience the tremendous growth in property value that other areas of the city have realized over the last few years. The owner, a local non-profit, acquired the property in shell condition and put substantial resources into the renovation.” said Denomme. “It was challenging to find a lender who understood the location and the ownership group, but ultimately we were successful in matching the sponsor with a loan that allowed them to accomplish their goals.”
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 Advisory, Property Management, Brokerage and Construction services that it offers.
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.
For more information, please visit: www.friedmanrealestate.com.