Bernard Financial Group Arranges $24.3M Refinance Loan For Element Hotel At The Metropolitan In Detroit

The Element Hotel at the Metropolitan, a 110-room property located at 33 John R St. in downtown Detroit, has been refinanced with a $24.3 million CMBS loan. The loan was arranged by Bernard Financial Group on behalf of Metropolitan Building SPE LLC.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $24,300,000
• Address: 33 John R Street, Detroit
• Market: Detroit

The refinancing deal for the Element Hotel at the Metropolitan was facilitated by Dan Duggan, Dennis Bernard, and Joshua Bernard of Bernard Financial Group. They played a crucial role in securing the $24.3 million CMBS loan for this downtown Detroit property.