FINANCED
Citywide Owner LLC Obtains $3.8M Loan For Detroit Multifamily From Genworth Life
2716 Macomb Street
MultiFamily
Financed 14 days ago
Summary
Loan
MICHIGAN
MultiFamily
A $3.8 million permanent life insurance company loan was facilitated by Bernard Financial Group for a 142-unit multifamily property located at 2716 Macomb Street in Detroit, Michigan. Citywide Owner LLC acted as the borrower, with Genworth Life and Annuity Insurance Company serving as the lender, a correspondent of BFG. The loan is intended for the multifamily property acquisition.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,800,000
- Units: 142
- Address: 2716 Macomb Street
- Market: Detroit, Michigan
- Lender: Genworth Life and Annuity Insurance Company
- Brokers: Dennis Bernard & Joshua Bernard - Bernard Financial Group
Dennis Bernard and Joshua Bernard of Bernard Financial managed the loan origination for the transaction. Genworth Life and Annuity Insurance Company, in addition to being the lender, will also handle the loan servicing for the 142-unit multi-family property deal in Detroit.
Players
Details
FINANCED
IMAGE: 05/03/2024
ADDRESS: 2716 Macomb Street
MARKET: Detroit, Michigan
ASSET TYPE: Multifamily ~ UNITS: 142
LENDER: Genworth Life and Annuity Insurance Company
BROKERS: Dennis Bernard & Joshua Bernard - Bernard Financial Group
LOAN AMOUNT: $3,800,000
NOTE: Bernard Financial Group facilitated a $3.8 million permanent life insurance company loan for a 142-unit multifamily property in Detroit, with Citywide Owner LLC as the borrower. Dennis Bernard and Joshua Bernard of Bernard Financial managed the loan origination, with Genworth Life and Annuity Insurance Company serving as the lender, a correspondent of BFG, which will also handle loan servicing.View on map
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Address2716 Macomb Street
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