The asset involved in this transaction is a development site located at 1401 Prairie Parkway Southwest in Wyoming, MI. The project entails a financing amount of $90,800,000 secured for the third phase of HōM Flats at 28 West, which will include 200 units, comprising 162 income-restricted and 38 market-rate units. The development encompasses four buildings with various amenities such as a gym, dog park, and childcare center, along with 8,894 square feet of ground-floor commercial space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $90,800,000
• Lender: Merchants Capital
• Landlord: Vishal Arora - Magnus Capital Partners

Key individuals in this transaction include Vishal Arora, representing Magnus Capital Partners, who secured the funding necessary for this multifamily project. The financing includes a construction loan, Freddie Mac TEL, and Low-Income Housing Tax Credit (LIHTC) equity, showcasing a strategic approach to developing affordable housing in the region.