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.