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$5,050,000 | Grand Rapids, MI building

Grand Rapids, MI

Transaction Type

Acquisition Finance


Loan Type

Bridge Loan

Situation & Challenges

  • Adaptive reuse project
  • Conversion of vacant big box retail space to Class A climate controlled self-storage
  • Significant interior construction needed for conversion
  • 3-5 years conservative projection until property would be stabilized

Solutions & Highlights

  • Strong, experienced Borrower
  • 5+1+1 loan term allows ample time to convert, lease-up, and stabilize