Maverick Commercial Mortgage Secures $9M Loan For Industrial Portfolio In Michigan

The industrial portfolio in Pontiac, Farmington Hills, and Bay City, Michigan, spanning a total of 151,735 square feet, has secured a $9 million first mortgage loan. The loan, facilitated by Maverick Commercial Mortgage Inc. on behalf of 1788 Holdings LLC, a Maryland-based real estate investment firm, is provided by a regional bank and has a term of five years.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $9,000,000
• Address: Pontiac, Farmington Hills, and Bay City, Michigan
• Market: Pontiac, Farmington Hills & Bay City, Michigan
• Landlord: 1788 Holdings LLC
• Broker: Maverick Commercial Mortgage Inc.

Maverick Commercial Mortgage Inc. acted as the intermediary in securing the loan for the industrial portfolio in Michigan. 1788 Holdings LLC, a real estate investment firm specializing in repositioning industrial properties, was the recipient of the $9 million loan. The properties in Pontiac, Farmington Hills, and Bay City are set to benefit from this financing, creating opportunities for further development and enhancement within the industrial real estate sector.