Finance V Michigan

Q10|Lutz closes permanent financing for 34-unit apartment building in Michigan

Q10|Lutz Financial Services’ Steven Phillip Siegel arranged permanent financing for a 34-unit multifamily property in Warren, Michigan.

The financing was secured through a lender based in the Southeast United States.

The asset was 100 percent occupied at the time of refinance. Siegel was able to secure a 100 percent non-recourse loan on behalf of the borrower. The terms included 80 percent leverage, 4.66 percent interest rate, 10-year term and 30-year amortization.