BWE Secures $37 Million Bridge Loan For Mixed-Use Property In Kalamazoo
155 West Michigan Avenue
$37,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 24, 2026
About this deal
AI
The Exchange is a mixed-use property located at 155 West Michigan Avenue in Kalamazoo, MI. This asset comprises a 15-story apartment building and is involved in a bridge loan transaction. The transaction was completed on June 24, 2026, for a total loan amount of $37 million.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $37,000,000
- Loan Type: Bridge
- Market: Kalamazoo, MI
- Loan Date: 06/24/2026
The financing for The Exchange was arranged by brokers Christopher Carroll, Cathy Bronkema, and Max Miller from BWE, representing the local commercial and residential property developer. The loan was originated to support the development of this mixed-use property, which was delivered in December 2020.
On the Map
$37,000,000
Mixed-use
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Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93