$9,300,000
Permanent Financing

Property:  3 Apartment complexes located in Detroit and Highland Park, Michigan

• Older, inner-city property
• Stabilization-challenged
• Obtained high loan-to-value

$15,000,000
Land Acquisition for Redevelopment

Property:  Development of 670 residential lots and high tech park in Pontiac, Michigan

• TIFA bond financing for infrastructre
• High leverage loan

$5,200,000
Acquistion and
Permanent Financing

Property:  Shopping Center plaza in Shelby Township, Michigan

• Asset required stabilization
• Closed acquisition in 21 days
• Long-term permanent financing
• Non-recourse loan funded 1 year later

$49,000,000
Permanent Financing

Property:  Major Lifestyle Shopping Center in Rochester Hills, Michigan

• New construction
• Loan funded at 85% occupancy with no operating history
• Rate locked 90 days prior to closing
• Able to capture low 2002 rates (6.25%)